Can you claim the home office tax deduction this year?

A pre-tax deduction can be an invaluable financial tool for both employer and employee – here’s how it works Pre-tax deductions play a major role in the way employers handle employee paycheck tax ...

When tax season rolls around, deductions and credits can make a real difference in how much you owe — or how much you get back. Deductions lower the portion of your income that’s taxed, while credits ...

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions ...

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 ...

Two types of tax breaks stand out among all the lingo: credits and deductions. Each lowers your tax liability, which is the total annual tax owed on your income. (That figure can be found on line 24 ...

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 2018 Tax Act created a new deduction for qualified business income earned by an individual. The basic deduction is 20% of ...