Tax benefits for home office expenses remain elusive for many. While freelancers and small-business owners can still claim ...

A deduction cuts the income you're taxed on, which can mean a lower bill. A credit cuts your tax bill directly. Learn more about common tax breaks and how to claim them. Many, or all, of the ...

The maximum claim for each child is $19,066. You can claim all of the eligible adoption expenses that you incurred but you have to claim them in the tax year that includes the end of the adoption ...

Interest deductions are most relevant to consumers who claim itemized deductions on their taxes. The higher the interest rate and the longer the term, the more you will pay in overall interest on ...

Peter is a writer and editor for the CNET How-To team. He has been covering technology, software, finance, sports and video games since working for @Home Network and Excite in the 1990s.

The best-known tax break is most likely the mortgage interest deduction. It may also be the least understood. There are two keys: You must file an itemized tax return. There are annual loan amount ...

Adhil Shetty, CEO of BankBazaar, urges Finance Minister Nirmala Sitharaman to raise the 30% income tax threshold to ₹18 lakh in Union Budget 2025, restructure the tax brackets, and introduce a ...

Tax season started on January 27, bringing taxpayers a key choice in whether to itemize their deductions or take the standard deduction.

Plus, there can be tax benefits to bonds. "Certain types of investment products can get you some tax-free income, like government bonds," said Colvin. "The tax benefits you get from federal or ...

Tax pros report confusion—and maybe some wishful thinking—among clients about whether they still need to file their 1040s and pay their taxes. Yes, you must file. The IRS is open for business ...

If your deductions exceed those amounts, you should probably itemize them to reduce your taxes. Usually, the move to itemized deductions comes after a major life change, said Mark Steber ...

Now Big Tech lobby groups say they plan to use trade negotiations to push back strongly against the U.K.’s digital services tax. And campaigners fear U.S. tech firms could seize on the prime ...