The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 – the form used for calculating the education tax credits that a taxpayer may claim as part of your tax ...

Early guidance for the new Sec. 45Z clean fuel production credit raises concerns regarding the eligibility of fuel sales to wholesalers.

Claiming a tax deduction for mileage can be a good way to reduce how much you owe Uncle Sam, but not everyone is eligible to write off their driving costs.. In the past, taxpayers had more options ...

More: Guide to 2024 taxes: W-2 arrival dates, 1099-K form confusion, free filing options. The mileage rate is useful to know at tax time for those traveling for volunteer work and others.

Here are 15 big self-employment tax deductions and tax benefits that could slash tax bills for freelancers, contractors and other people who work for themselves.

Starting Jan. 1, 2024 the mileage tax deduction will now be 67 cents per mile driven — up 1.5 cents from 2023. Find out if you qualify for this deduction.

Other mileage rates will not go up in 2025. More: A new supersize limit for some 401(k) contributions hits in 2025: What you need to know The standard mileage rate for medical purposes remains at ...

The IRS has announced its 2025 standard mileage rates. Standard mileage rates are used to calculate the amount of a business, moving, medical, or charitable expense. Newsletters Games Share a News Tip ...