Taxpayers and businesses are encouraged to review IRS instructions and updates closely as new rules take effect.

Business taxpayers are often entitled to extra self-employed and small business tax deductions, which can potentially lead to ...

For 2025, these autos have a Section 179 tax deduction limit of $12,200 in the first year they are used. In fact, if the ...

Tax rules in 2026 tilt even more heavily toward people who take the standard deduction, thanks to new above the line write ...

While some overlap with those available to regular workers, self-employed individuals also have their own unique deductions. It’s important to note that the IRS definition of “self-employment” is ...

The type of deduction you take can reduce your tax bill, or even determine how much you get back in refunds this tax season. But what is the difference between standard and itemized deductions? Is one ...

Although paying taxes is a fact of life, the IRS offers taxpayers the ability to reduce what they owe via various tax credits and tax deductions. But it’s not as simple as it sounds. Before you can ...