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: ...

Many of the most impactful tax provisions in the "One Big Beautiful Bill" (OBBB), which President Trump signed into law on ...

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 ...

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

The One Big Beautiful Bill brought several changes to personal income taxes. Learn what you need to know for the upcoming tax season.

While tax season won't start for at least another month, and most taxpayers won't need to file their 2025 tax returns until ...

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 ...