Calculating the home office deduction using the standard method involves completing IRS Form 8829 to calculate the amount of ...

Here are three sometimes overlooked tax moves you may want to consider. One relatively simple but sometimes overlooked way to ...

The standard deduction is a dollar-for-dollar reduction in taxable income, lowering the amount that a taxpayer owes the Internal Revenue Service.

homeowners could claim a plethora of extra tax deductions. But these are no longer an option. After the TCJA became law, it’s more complicated to get a deduction when you borrow against your ...

Extending those tax cuts from his first term will put serious strain on the national debt, which is currently at ...

Learn whether union dues are tax deductible, including changes from the 2017 Tax Cuts and Jobs Act, and find out when individuals can still claim deductions.

Below you’ll find tables for all the federal, provincial and territorial tax brackets applicable to your 2024 income. Use them to project your taxes payable (before deductions) by combining ...

Musk shared the clip to his 204.3 million followers with the caption, "Should your tax dollars really be paying for an organization run by people who think the truth is a ‘distraction’?" ...

He is scrapping the system in which the Government collects betting duty of 6.75% from bookmakers, which is passed on to punters in a 9% tax ... for us to offer deduction-free betting for the ...

Tax deduction refers to claims made to reduce your taxable income, arising from various investments and expenses incurred by a taxpayer. Thus, income tax deduction reduces your overall tax liability.

Section 80E of the Income Tax Act provides provisions for tax deductions on educational loans. This is available only for the interest component of the loan. This can only be claimed once the loan ...