What Does Tax-Deductible Mean? The U.S. tax system can be a bit convoluted, and if you’re trying to learn every single aspect about filing taxes, you’ll find yourself deep in a rabbit hole. The good ...

When tax season rolls around, deductions and credits can make a real difference in how much you owe -- or how much you get back. Deductions lower the portion of your income that's taxed, while ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor of Science in ...

Sorry tickets to see Taylor Swift perform are not tax deductible. SAO PAULO, BRAZIL - NOVEMBER 24: (EDITORIAL USE ONLY. NO BOOK COVERS.) Taylor Swift performs onstage during "Taylor Swift | The Eras ...

When you file your taxes, itemizing deductions can help you reduce your taxable income. Some people are eligible to deduct their sales tax. If you choose to itemize deductions, you’ll have the option ...

Are dental expenses tax deductible? Depending on how much you spend on dental care during the year, you can likely deduct a portion of your dental costs.

The IRS allows you to take a charitable deduction on your tax return for qualified donations of cash or property if you itemize your deductions, but the rules can be confusing. For example, how much ...

It is axiomatic that the tax treatment of interactions between a closely held business and its owners will generally be subject to heightened scrutiny by the IRS, and that the labels attached to such ...

The IRS has released new guidance to help taxpayers who are eligible to claim the deduction for tips and for overtime compensation for tax year 2025. (The guidance to help employers and other payers ...