Page 49 - Deductions News Today

You might still have time to claim the Employee Retention Credit (ERC) under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which encourages businesses to keep employees on their...

After more than a year of being cooped up, Americans are getting antsy and wanderlust is back again, evidenced by packed airports across the country recently. If you're a small business owner or...

The IRS allows teachers to claim the educator expenses deduction if they've paid for classroom supplies or other materials out of their own pockets during the tax year. Starting this year, educators...

Tax-deductible donations include money or goods you contribute to tax-exempt organizations, and your charitable giving can benefit you, too, if you take a charitable contribution deduction. By...

When it comes to filing your tax return, any potential saving tips are welcome. While some tax tricksters spend an inordinate amount of time finding hidden loopholes to save some precious pennies,...

How much tax you owe depends on your income, but the federal government, through the Internal Revenue Service, allows you to claim deductions that reduce your taxable income and the amount of tax you...

As a parent, you know how expenses can add up. Having kids brings a certain level of base additional costs into your life like food, shelter and clothing. Then there are child care, extracurricular...

Some deductions remain every year, but others change or disappear, and new ones crop up. Learn the most common tax deductions available for tax year 2019.

The IRS posted new guidelines about the Earned Income Tax Credit on its website this week that aim to provide more information to eligible taxpayers on how to properly claim the credit when they...

If your teen worked a full-time or part-time job in 2021 for the first time, they might be facing another milestone in their life this April: filing tax returns. Your teenager must file federal and...