The state and local tax deduction could change in 2025 as lawmakers debate Trump’s tax cuts. Here’s what to know.

Like most filers, we usually take the standard deduction, but itemizing our taxes is saving us money this year.

These deductions can lower your taxes and are available to taxpayers across various income brackets and situations.

A tax deduction is an amount of your income that isn’t taxed due to certain qualifying factors and non-taxable payments. “There’s very few of those right now that most people can take. But it’s ...

Is this meal tax deductible? Knowing the answer can help business owners lower their 2024 taxes and avoid IRS headaches.

Some might be. In general, most closing costs are not tax-deductible. This is because the IRS regards them as part of the ...

Nearly half the states in the country have some sort of tax benefit for renters. Not everyone qualifies, though.

The IRS offers various tax breaks for homeowners that can help lessen the financial burden associated with homeownership.

Fortunately, some of these costs are tax deductible. You'll need to itemize your deductions to benefit from these tax breaks, so it's important to calculate whether you can write off enough to ...

President Trump highlighted a tax cut for which many businesses have been clamoring – full and immediate deductions for ...

A proposed amendment to a property tax relief bill would replace Indiana's existing property tax deductions with a single, large deduction.

For those filing taxes in 2025, deductions like mortgage interest and home office expenses have become more relevant with the rise of remote work. Some tax benefits have been long established ...