All new car and truck buyers who take out a car loan won't qualify for the tax deduction. Much will depend on your income, ...

Rental property tax deductions allow you to claim the cost of repairs, maintenance, taxes, insurance, depreciation and any ...

Increasing the $10,000 cap on the state and local tax deduction could benefit millions of tax filers.

Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or ...

Proposed changes to the SALT deduction cap could deliver significant tax relief to many Americans, especially higher earners ...

The Senate on Tuesday unanimously passed the No Tax on Tips Act in a surprise vote. This could boost momentum for the idea ...

The U.S. Senate passed the No Tax on Tips Act on Tuesday, sending the bill to the U.S. House for consideration. President ...

The House plan would disproportionately benefit top earners and sacrifice significant federal revenue — without increasing ...

Tax breaks on overtime pay and tipped earnings passed the House on May 22, 2025, as part of the “One Big Beautiful Bill Act” (H.R. 1). The ...

Q. I was a victim of internet fraud and lost a lot of money. Can I claim this loss on my Form 1040? A. Depending on the circumstances, this might be a deductible theft loss that you can claim on ...

These deductions reduce a taxpayer's taxable ... on the taxpayer's overall tax rate and cash flows for the given tax year. For example, because interest payments on certain debts are a tax ...