The standard deduction reduces your taxable income. For 2018 taxes, the standard deduction is $12,000 for single filers and married filers filing separately, $24,000 for married filers filing jointly and
Read MoreThe U.S. Treasury Department is again reducing penalties for taxpayers who didn’t pay enough of their tax bill throughout the year.Taxpayers who paid at least 80 percent of their estimated tax liability
Read MoreIf you work for a living, you know that your wages are taxable, and you’re probably aware that some investment income is taxed, too. But the IRS doesn’t stop there.If you’ve picked up some extra
Read MoreOver the years, taxpayers have concocted a lot of zany arguments to justify their tax breaks. Here are some of the most creative ones that the courts decided did not quite work. Take note: many of these
Read MoreMany small-business owners don’t take full advantage of the opportunities available to them to reduce what they pay in taxes. Below are a few often-overlooked tips to consider. Small-business owners
Read MoreThe deduction is still there, but you might not be able to use it anymore. One of the most popular and lucrative tax breaks has been the deduction for mortgage interest, and while tax reform didn’t
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