Republicans want to extend a 2017 tax cut in their upcoming reconciliation legislation that primarily benefits 200,000 ...

As agriculture continues to advance, farmers and ranchers are faced with large capital investments to maintain their ...

“There are two valuable credits that the IRS reports one out of five people miss every year. The Earned Income Tax Credit is ...

NEXT explains that if you’re an independent contractor, it’s your job to pay taxes on your own—and you’ll want as many 1099 ...

Where you live can have a direct impact on your tax burden. While federal tax deductions remain consistent nationwide, ...

Self-employed Uber and Lyft drivers can maximize tax deductions by tracking vehicle expenses, tolls, phone usage, and service fees.

The standard deduction is the specific dollar amount, set each year by the IRS, that lowers the sum of your taxable income if you do not itemize deductions on your return. For 2024 tax returns, the ...

When filing their return and Form 1040, taxpayers can itemize their deductions or choose the standard deduction offered by the tax agency. The standard deduction is a predetermined amount of ...

With tax filing season for 2024 returns in full swing, it's important that clients take all deductions and credits that they may be entitled to in order to reduce their tax liability to the lowest ...

According to AARP.org, here are some examples of strange tax write-offs ... Trump's business claimed $70,000 in hairstyling expenses as tax deductions. Additionally, Trump deducted at least ...

For example, if you owe $1,500 in taxes and qualify ... write-offs and deductions play a key role. With the standard deduction, you’ll opt to have your income reduced by a set amount of $15,000 ...

This has the ability to cut your tax bill by tens of thousands of dollars each year. EXAMPLE: Owning a $1 million investment property will result in annual tax deductions of around $26,000. If you’re ...