Intuit TurboTax reports that the home office deduction allows eligible taxpayers to write off home expenses if the space is ...

Senate Republicans on Tuesday passed changes to the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump’s multitrillion-dollar spending bill. Passed via the ...

Plus, what to know about the temporary deduction.

The Trump administration’s one-page tax plan released last month doesn’t say much, but it does propose doubling the standard deduction for income tax filers. That would make about $25,000 of a ...

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

When former President Donald Trump overhauled the U.S. tax code in Dec. 2017, new income brackets and standard deduction amounts came into effect that changed how much Americans pay in taxes — and how ...

The new senior tax deduction is worth up to $6,000 for single adults and $12,000 for married couples. This reduces your taxable income for the year, potentially resulting in greater tax savings. It's ...