Learn how tax deductibles work to lower your taxes. Discover common deductions like student loan interest, charitable ...

Many tax deductions, such as charitable donations and business supplies, are well known, but some are more obscure. With tax season upon us, here’s a look at how tax deductions work and three ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Composite by ...

Tax Day for the 2024-2025 tax year is Tuesday, April 15, 2025. The IRS has approved some unusual deductions, including medical expenses for clarinet lessons and a swimming pool. Those who miss the ...

Got questions about the new deductions for tips, overtime, seniors and car loans? Here’s what you’ve been asking—along with my answers—about those, as well as other updated tax provisions. The One Big ...

The Department of Revenue says Minnesota taxpayers will see tax brackets change by 2.369% from tax year 2025, to protect ...

The Treasury has released a preliminary list of jobs that qualify for the new tip deduction. A whopping 68 occupations, including podcasters and bakers, made the list—some of them may surprise you.

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...