A guide to the new 'Bonus Deduction' from the OBBB. Learn who qualifies for the up to $6,000 (single) or $12,000 (married) ...

About 144 million Americans might qualify for the 2026 universal charity deduction, while high earners face new IRS limits. Here's what to know.

Forbes contributors publish independent expert analyses and insights. Nathan Goldman is a tax prof. at NC State Univ. The season of giving is upon us. While many use December as an opportunity to ...

Tax credits are generally more valuable than tax deductions. There are many types of each: nonrefundable, partially refundable and fully refundable tax credits, and standard vs. itemized deductions, ...

There is an above-the-line deduction available for many individual taxpayers for qualified tuition and related expenses. The deductible expenses are defined in the same manner as they are for the ...

GoodRx reports seven overlooked medical expenses that are tax-deductible, including acupuncture and medical transportation, if itemized.

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

Two types of tax breaks stand out among all the lingo: credits and deductions. Each lowers your tax liability, which is the total annual tax owed on your income. (That figure can be found on line 24 ...

It's tax season, and Americans are confronted by a lot of tax jargon when preparing their returns. Stream NBC 5 for free, 24/7, wherever you are. Two types of tax breaks stand out among all the lingo: ...