Discover how same-year tax deductions apply to capital expenditures, with insights into Section 179 deductions and the difference between CapEx and OpEx for tax purposes.

If you’re an older adult, a new bonus tax deduction could provide a valuable tax benefit. Here's how it works.

Learn who qualifies for home office tax deductions, how to calculate them, and other business write-offs like car mileage and supplies.

A guide to the new 'Bonus Deduction' from the OBBB. Learn who qualifies for the up to $6,000 (single) or $12,000 (married) ...

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, ...

The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. IRS guidance can help figure the deductions.

If you have a mortgage, you may qualify for a valuable tax write-off Written By Written by Contributor, Buy Side Aly J. Yale is a contributor at Buy Side and an expert on real estate, mortgages, ...

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 ...

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: ...