Page 50 - Deductions News Today

It's tax season and you're likely looking for any opportunity available to reduce your tax liability. If you're saving for retirement, you're in luck. "There are a handful of options to save for...

Teenagers -- and adults, for that matter -- who take on gig work, side jobs, or consider themselves self-employed will receive a 1099-NEC form for any earnings of $600 or more. If a self-employed...

With the tax filing season officially underway, Americans may be looking to claim as many credits and deductions as they legally can to reduce their tax bills. If you have older adults living with...

If you're self-employed and use part of your home for business purposes, you may be able to deduct certain related expenses. To claim the home office deduction on your 2021 tax return, the IRS says...

If you bought personal protective equipment (PPE) -- such as masks, hand sanitizer and sanitizing wipes -- for the purpose of preventing the spread of COVID-19 in 2021, you may be eligible for a tax...

When you file your federal income tax return, you have two choices: take the standard deduction or itemize your deductions. According to the IRS, most taxpayers use the option that lowers their tax...

>> its not up to big oil for consumers. its supply and demand. >> the biden administration has rolled back any tax support or tax subsidies for big oil. they have already done that. they have gone after big oil as you called it. but it hasnt done anything. all they have done is hurt the oil companies by removing any sort of tax benefits or deductions. so the biden administration is doing everything that they can to squeeze big oil. at the same time, theyre also squeezing the u.s. consumer. its a...

The new year is almost here but you can still make a few adjustments that can have a significant impact on how much you pay in taxes next spring.  See: Will My Child Tax Credit Repayment...

It's the last week of the year, which means it's your last chance to save big on taxes. Here are 10 tips to reduce your taxable income for 2021.

Not itemizing your deductions. you could actually contribute up to $100,000 out of those minimum distributions. important thing to remember is that you do it directly from that ira. now, 529s, those contributions, for those kids that are going to be going to college, its not allowed to be deductible on a federal basis. however, check your state because some states do allow tax benefits for that. now, fsa, flexible spending account, thats a use it or lose it so you want to make sure that youre us...