Under Section 80D of the Income Tax Act, you can claim deductions for the health insurance premiums you pay for yourself, ...

If you’re not sure which ones you may qualify for, here are some common deductions and credits new tax return filers can take.

Medical expenses can be a major tax deduction, but only if they go over 7.5% of your adjusted gross income, which is ...

The home office deduction could provide a tax break on your 2024 return. Here’s who qualifies and how to claim it.

Navigating the complexities of tax deductions can be daunting, especially with recent changes in tax laws. The Tax Cuts and ...

If tax deductions are a driving factor behind ... you paid for utilities based on the square footage of your workspace up to a maximum limit. If you're going to itemize your deductions, the ...

Information on other maximum credit amounts based on ... Itemized deductions: If you do not take the standard deduction and choose to itemize your expenses instead, you may also claim deductions ...

The home office deduction allows ... 300 square feet, for a maximum of $1,500. By contrast, the "regular method" deducts actual expenses based on the percentage of your home used, such as part ...

Both artists and art collectors can take part in this hunt, but they need to know the rules set by Congress and the Internal Revenue Service to get the maximum benefits and stay out of trouble.