How does the mortgage interest tax deduction work? Experts explain
Recent changes have reshaped how this tax deduction works. So, we asked tax and financial experts to answer common questions ...
Your tax return could be 'flagged for audit' without these key forms, experts say
The agency has “very sophisticated software” that compares information returns to what’s reported on your filing.
8 tax deductions for homeowners to lower their income tax
There are several tax deductions for homeowners, from interest paid on your mortgage to specific home improvements. Find out ...
If Trump Reinstates Tax Cuts, Here’s How Much You Could Save
Donald Trump has returned to the White House for a second term. During his first, Trump overhauled the tax code with his 2017 ...
Your Tax Filing Could Be Free if Musk’s DOGE Commission Gets Its Way
Leading the Department of Government Efficiency (DOGE), now officially under the United States Digital Services, Elon Musk ...
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Tax Season Has Started — Here Are 6 Tax Moves To Make Now
Tax season kicked off Jan. 27, so it's time to start preparing. While you have until April 15 to file taxes, waiting until ...
Tax credits and deductions: What you need to know for 2024 tax filing
The IRS has made its annual inflation adjustments for more than 60 tax provisions, including tax rate schedules and the ...
Tax Deductions for Homeowners: 8 Breaks You Get for Owning Your Own Home
The mortgage tax break is one of the most common. It enables you to deduct the home mortgage interest on the first $750,000 of your loan/debt if you’re single or married filing jointly, or $375,000 if ...
Tax season begins today. Here’s how to file taxes online and make it as painless as possible
It’s official, the IRS begins accepting 2024 tax filings today. Over 200 million returns will soon start trickling in—and ...
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The 2025 standard deduction: Tips for filing your taxes this 2025
As tax season approaches in 2025, understanding the standard deduction is crucial for reducing your taxable income and minimizing your tax bill.
The IRS's Direct File program debuts in Idaho this year. Here's what to know.
The Gem State will join 24 other participating states in the IRS’s Direct File program, doubling its participation rate from ...
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Tax credit vs. deduction: Which is better?
Tax deductions can work both as above-the-line deductions or as itemized deductions. Above-the-line deductions are applied to your adjusted gross income (AGI) even if you claim the standard ...