The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how to choose the option that’s best for you.

Is HELOC interest tax deductible? It can be if the funds are used for eligible home improvements and meet IRS requirements. Learn more with this guide.

On January 23, 2026, the Department of Treasury and the Internal Revenue Service (IRS) issued Fact Sheet 2026-01, providing answers to ...

The Internal Revenue Service and the Treasury released a set of questions and answers on the new deduction for overtime pay ...

The Act creates a temporary deduction for tipped workers (employees and self-employed individuals) for “qualified tips.” Starting this year through 2028, tipped workers may be able to deduct up to $25 ...

Some deductions remain every year, but others change or disappear and new ones crop up. Learn about the best tax deductions and breaks available.

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily ...

Ok tax class, today let’s talk about how to get a deduction for home office expenses. What is that? Home office deductions allow self-employed folks to deduct expenses related to the business use of ...

Certain workers may now be able to keep more of what they earn, but what does “no tax on tips” really mean for employees and their employers? The “One Big Beautiful Bill” recently passed by the U.S.

The home office tax deduction is a tax break that some self-employed people who work from home can take advantage of. Here's ...