Filing annual income tax returns isn’t the full extent of the federal taxing arm; there are also estate and gift taxes . While the...

When you file your return, you still have a choice between taking the standard deduction or itemizing your personal deductions . The...

The new tax bill only allows taxpayers to claim the deduction if the loss occurred during a federally declared disaster, through 2025.

If you obtained a mortgage to buy or build your principal residence (plus one other home) before Dec. 16, 2017, you’re in the clear and...

Previously, 529 plan savings could only be used on qualified higher education expenses. In a major victory for wealthier families, you...

The individual mandate is out. Starting Jan. 1, 2019, consumers who do not purchase health insurance will no longer face penalties. GOP...

Homeowners can still exclude gains up to $250,000 (or $500,000 if married filing jointly) when they sell their primary residence, but...

The itemized deduction for casualty and theft losses to personal-use property, such as your home, household items, car, and jewelry, can...

Teacher Deduction Teachers can deduct up to $250 for unreimbursed expenses for classroom supplies or school materials from their taxable...

Do you contribute to an individual retirement account (IRA) or Health Savings Account (HSA)? These and most other deductions you can take...

Old Rule: The individual paying alimony or maintenance payments can deduct payments from their income. The person receiving the payments...

New homeowners can include mortgage interest paid on up to $750,000 of principal value on a new home in their itemized deductions. The...

If you have a child under the age of 17, you may be eligible for a $2,000 tax credit, $1,400 of which is refundable (payable even if more...

The new tax bill suspends the moving expense deduction through 2025. Until then, taxpayers are not permitted to deduct moving expenses....

While there are still seven tax brackets, the number of them have been reduced. For example, the top tax rate is 37% (down from 39.6%)....

Along with the IRS, Fresh Start Financial encourages you to take a look at your tax withholding now, so that you won't have any large...