Key benefits are a more favorable tax rate and a higher standard deduction. To qualify ... of 3.636% per year for 27.5 years—the IRS’s definition of a property’s “useful life.” ...

The Internal Revenue Service issued a memo last month that said victims of certain impersonation and investment schemes might ...

The goals of these strategies are to minimize tax liability, maximize deductions and credits, preserve capital gains, and achieve financial objectives. By employing real estate tax strategies ...

Home Office Tax Deductions Definition: Income tax deductions you're allowed to take if your home office passes the "exclusive use" text needed to qualify for the deduction Working at home can ...

For as long as Americans have paid federal income taxes, they’ve been able to subtract some of what they pay to their state ...

Is tithing tax deductible? Yes, but only if you opt to itemize your deductions. Here's everything you should know about ...

This article was expert reviewed by Lisa Niser, EA, an enrolled agent and tax advisor. The standard deduction reduces the amount of your income that is federally taxed. The amount of the standard ...

"Interest on home equity loans and lines of credit are deductible only if the borrowed funds are used to buy, build, or ...

A tax break that served as a lifeline and springboard for small businesses throughout the last eight years is set to expire ...

A lot has been in the news regarding tax deductions. Certain popular tax breaks are in danger of going away while others may be paused or amended under a Tax Cuts and Jobs Act (TCJA) extension.