Many taxpayers may be surprised by a larger tax bill if the TCJA isn't extended. Check out these proactive strategies to help mitigate some of the impacts.

Trump's 2017 tax bill is up for renewal this year. Here's what it means for your taxes and how to take advantage of low taxes ...

Medical expenses can be a major tax deduction, but only if they go over 7.5% of your adjusted gross income, which is ...

State Representative Erin Paré said that as it stands right now, North Carolina law does not allow an itemized deduction for ...

W ith tax season officially underway, you'll need to know the standard deduction amount you can claim for 2024. After all, most taxpayers opt to take the standard deduction rather ...

The Congressional Budget Office (CBO) recently released its Options for Reducing the Deficit, outlining a number ...

The U.S. tax code may be notoriously complex, but understanding some basic terms can help you breeze through your tax return ...

The post Your Recent Mortgage Statement Holds the Secret to a Big Tax Bonus This Year appeared first on Real Estate News & ...

“The benefits of the deduction go primarily to high-income taxpayers because high-income taxpayers tend to itemize more often ...

The IRS kicked off the tax season on Monday, Jan. 27, allowing taxpayers to begin filing their 2024 tax returns. Its free Direct File service, which this year will be available to residents in 25 ...

IRS Publication 587 outlines a lot of scenarios ... It’s an adjustment to income rather than an itemized deduction, which means you don’t necessarily have to itemize to claim it.

In other words, it allows you to pay less tax without having to worry about itemizing all your expenses. It's much easier than itemized deductions, which require careful tracking of all your ...