About 144 million Americans may qualify for the 2026 universal charity deduction, while high earners face new IRS limits.

Learn how tax deductibles work to lower your taxes. Discover common deductions like student loan interest, charitable ...

This article is the first in a new column, Personal Financial Planning, covering the role of CPAs in advising individuals and ...

Whether you’re filing for the first time or have been around the tax return block, it’s easy to confuse tax credits and deductions. Although both can help lower your tax bill, the IRS describes a tax ...

Tax credits are generally more valuable than tax deductions. There are many types of each: nonrefundable, partially refundable and fully refundable tax credits, and standard vs. itemized deductions, ...

Oli joined the Latest News team in 2021, taking an interest in economics, world news, and articles that build from his study of history. He also dabbles in sports writing, joining the coverage of the ...

Andy is a Miami native journalist and translator who is always on top of what sporting activity is taking place across the globe, and he aims to ensure all relevant information is shared with fans.

Although paying taxes is a fact of life, the IRS offers taxpayers the ability to reduce what they owe via various tax deductions and tax credits. But it’s not as simple as it sounds. Before you can ...

Discover what medical expenses are deductible, including examples like insurance premiums and prescriptions, and learn how ...

Tax deductions reduce your total taxable income, also called your adjusted gross income. The Internal Revenue Service offers both personal and business deductions, but business deductions must be ...

There is an above-the-line deduction available for many individual taxpayers for qualified tuition and related expenses. The deductible expenses are defined in the same manner as they are for the ...

The grain glitch was an unintended consequence of Section 199A, the provision that created the 20 percent tax deduction on income derived from pass-through businesses designed to replicate the tax ...