Older taxpayers now have access to some of the most generous standard deduction rules on record, and the stakes are high for ...

Claiming tax deductions is a powerful strategy for tax filers. Using appropriate deductions can lower your bill, increase your tax refund or make sure you're taking advantage of tax benefits offered ...

Editor's note: A version of this article was initially published on Jan 10, 2019. It is part of the 2020 Tax and IRA Guide. Question: If I opt to take the standard deduction, can I deduct anything ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

"I've been reading that with the higher standard deduction amounts, fewer people will benefit from itemized deductions than in the past. But what about deductible IRA contributions? Does that mean ...

Unless you've already done your 2018 taxes, the new tax laws are difficult to fathom. There are several changes that will hurt retired or soon-to-be-retired taxpayers. The most pronounced change is ...

The IRS offers various tax breaks for homeowners that can help lessen the financial burden associated with homeownership. Common tax breaks available to homeowners include a mortgage interest ...

Taxpayers tend to shy away from taking the home office deduction, assuming that they will be targeted for increased scrutiny from the IRS. That is certainly possible, especially if your deductions are ...

An accrual-basis taxpayer normally takes deductions for expenses in the year the item accrues. But when the expense accrued by the taxpayer is owed to a related party who uses the cash basis of ...

Rockies starting pitcher Kyle Freeland delivers against the Chicago Cubs at Wrigley Field on Monday in Chicago. Buying a home has never been more expensive, but if you can find one you can afford, ...