A deduction cuts the income you're taxed on, which can mean a lower bill. A credit cuts your tax bill directly.

From standard deductions to adoption credits, the IRS has announced major updates that could impact your tax return this year ...

From increased standard deductions to special write-offs for educators and self-employed individuals, understanding these updates could save you thousands on your 2024 tax return.

If you drive a car, like the more than 200 million other Americans, you could catch a brake — a tax break, that is.

Discover the basics of how the IRS tax refund works. Learn strategies for maximizing them and tips on how to use them wisely.

The 2024 mileage rate for use of your vehicle to do volunteer work for certain charitable organizations is 14 cents a mile.

The Income Tax Bill, 2025 will introduce changes in Standard Deduction, which will go on to benefit individual salaried ...

Some taxpayers may benefit more from taking the standard deduction, but if you’ve determined your tax savings will increase by itemizing, deducting your home office expenses could make sense.

Karla Dennis, EA, MST, is CFO/CEO of the award-winning tax accounting firm KDA Inc.—specializing in tax planning. It’s 2025, ...

Gabriella’s work has also appeared in Money Magazine, The Hyde Park Herald, and the Journal Gazette & Times-Courier. As a ...

From summer camps to smart home devices, here are four categories of expenses to consider adding to your list.

The Union Budget 2025, presented in the Parliament Session on February 1, 2025, introduced major reforms in exemptions and deductions under the new tax regime for the Financial Year (FY) 2025-26 and ...