The megabill boosts the maximum SALT deduction for single filers and married couples to $40,000 through 2029, before going ...

In theory, anything can be a business expense — if you're willing to explain it with a straight face and possibly face ...

The $40,000 cap would begin this year, with the same $500,000 income phaseout, and both figures would rise by 1% annually ...

The Senate advanced Trump’s priorities, which Republicans have been calling the One Big Beautiful Bill. Here’s how it could ...

You can deduct the money you paid to cover your loved one’s unreimbursed medical and dental costs if the qualified medical expenses of everyone claimed on your taxes total more than 7.5 percent of ...

Tax deductions are subtracted from your taxable income, thereby lowering the amount of tax you owe. You can choose the standard deduction or itemize your deductions on Schedule A of Form 1040 or ...

Under the proposal, teachers may claim up to a $300 deduction on their state income tax return for eligible expenses such as professional development courses, books and other classroom supplies.