Medical expenses can be a major tax deduction, but only if they go over 7.5% of your adjusted gross income, which is ...

From summer camps to smart home devices, here are four categories of expenses to consider adding to your list.

Itemized deductions also reduce your income but require you to list eligible expenses and file an additional tax form ... $21,900 for head of household filers, and $29,200 for married couples ...

Several tax breaks, including the Child Tax Credit, may face reforms or be cut entirely as lawmakers seek revenue for Trump’s ...

People over 65 qualify for an additional standard deduction. For 2024, it’s $1,950 if you are single or filing as a head of household, and $1,550 for married taxpayers. There are no new tax ...

Tax season has officially begun and ... The IRS accepts too many different types of credits and deductions to fully list here. These are among the most common, and the forms you'll need to ...

So, if you paid $10,000 in interest on your $100,000 home equity loan in 2024, that would be the amount potentially tax-deductible, not the full loan amount. This is a major advantage, however ...