What's more, you can only get a tax benefit if you itemize your deductions. With the standard deduction for tax y ...

The deduction often includes a percentage of rent or mortgage interest, property taxes, utilities, and even home insurance. The calculation usually depends on the size of the workspace compared with ...

One of the ways to reduce your liability this tax year is to decrease your taxable income. And the best way to do this is by taking advantage of tax ...

Those who stand to benefit from the changes in tax code include workers who earn tips, those receiving overtime pay, ...

You can deduct state and local property taxes from federal income taxes up to a limit. Understand what taxes are eligible and ...

Seniors 65 and older can claim a new federal tax deduction up to $6,000 for 2025, but it's not automatic. Learn how to get this tax break and avoid missing out.

Many of you have your W-2s and are ready to do your taxes. But before you file, there's one thing to remember: there are big changes this year. 7 On Your Side is explaining some of the deductions that ...

NEW YORK — Tax season is underway and you have until April 15 to file your return with the IRS. If you want to avoid the stress of the looming deadline, start getting organized as soon as possible.

While tax refunds are set to increase an average of $1,000 per household following President Donald Trump's Working Families Tax Cuts, some Americans may get lower amounts back in their pockets. There ...

A new tax form, Schedule 1-A, introduces four new deductions for the 2025 tax year. All four write-offs are "below-the-line" deductions, which reduce taxable income but not adjusted gross income. Each ...

As is the case almost every year, tax day is apt to sneak up in a hurry. Whether you use tax preparation software or outsource your tax prep to a certified public accountant, here are some key ...