The standard deduction nearly doubled as a result of the Tax Cuts and Jobs Act, which went into effect in 2018. For taxes ...

The standard deduction makes taxes simpler for many—you can claim this base amount without having to detail itemized deductions like mortgage interest, charitable gifts, medical expenses and more. But ...

Tax season opened on Monday, January 27, meaning Americans are now able to file and pay their tax returns for 2024 with the Internal Revenue Service (IRS).

Just because you work from home doesn't mean you can deduct a home office on your taxes. Here's how to qualify for the deduction and how to take it.

The post Your Recent Mortgage Statement Holds the Secret to a Big Tax Bonus This Year appeared first on Real Estate News & ...

"The mortgage interest tax deduction is a [tax benefit that] allows you to subtract the interest paid on your home loan from ...

Here are some tax terms you should know. Your tax liability is the amount of tax you owe to the IRS or your state government.

A nonrefundable credit can reduce your tax liability to zero but not below that. Refundable credits can reduce your liability ...

The 2024 mileage rate for use of your vehicle to do volunteer work for certain charitable organizations is 14 cents a mile.

There are several tax deductions for homeowners, from interest paid on your mortgage to specific home improvements. Find out ...

The 2017 Tax Cuts and Jobs Act eliminated unreimbursed itemized deductions for employees, and Congress never brought them back despite a surge in people working from home. The rule runs through ...