The IRS has issued proposed regulations for the temporary car loan interest deduction enacted under the new tax law.

Discover what medical expenses are deductible, including examples like insurance premiums and prescriptions, and learn how ...

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 ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. She ...

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 ...

The standard deduction for a widow over 65 can be higher than that of the average taxpayer. This has the potential to lower your taxable income and reduce your federal tax bill. This is because widows ...

For a long time, the standard deduction has been a straightforward option for many U.S. taxpayers. It allows most filers to reduce their taxable income without needing to itemize deductions. The ...

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 ...