Learn how tax deductibles work to lower your taxes. Discover common deductions like student loan interest, charitable ...

Discover what medical expenses are deductible, including examples like insurance premiums and prescriptions, and learn how ...

It's tax season, and Americans are confronted by a lot of tax jargon when preparing their returns. Stream NBC 5 for free, 24/7, wherever you are. Two types of tax breaks stand out among all the lingo: ...

The first tax season under President Trump’s One Big Beautiful Bill Act is fast approaching – and most filers can expect a ...

In some states, the new federal tax breaks will automatically apply to state income taxes unless legislatures opt out. But in many other states, where tax laws are written differently, the new tax ...

Starting and running a small business is expensive. There are many different costs that go into operating a business, but many can be tax write-offs. For an expense to be deductible, the cost must be ...

Permanent tax cuts, a higher SALT deduction and new relief for seniors, families and small businesses may help ease rising ...

Many people will be shocked when they discover the intricate rules — and lack of supporting paperwork — when filing 2025 federal income tax returns.

Tax credits are generally more valuable than tax deductions. There are many types of each: nonrefundable, partially refundable and fully refundable tax credits, and standard vs. itemized deductions, ...

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 ...