Why a popular tax break that helped Philadelphia’s small businesses may be going away
Philadelphia has effectively exempted companies that make less than $100,000 from business in the city from paying the ...
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Own a Home? Here's How the Mortgage Interest Deduction Will Lower Our Tax Bill
Like most filers, we usually take the standard deduction, but itemizing our taxes is saving us money this year.
Military families have special tax breaks — but the rules can be tricky, experts say
Many members of the U.S. military qualify for special tax breaks that aren't available to other Americans. Here's what to ...
What Are the Tax Rates for the Alternative Minimum Tax (AMT)?
The Alternative Minimum Tax (AMT) is a parallel income tax system designed to ensure that high-income individuals pay a ...
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Weird IRS tax breaks include pet moving expenses, boat repairs. How tax deductions work
Here’s what to know about tax season and Tax Day, a quick explainer on how tax breaks work and a list of 10 strange, creative ...
CRA Red Flags: 3 Tax Breaks That Are Often Denied
You can be denied many tax breaks, but you can't be denied the dividend tax credit when you invest in Fortis Inc (TSX:FTS).
Iowa Republicans' massive property tax overhaul legislation, explained in 60 seconds
A pair of bills, introduced by GOP lawmakers last week, would give new tax breaks to all homeowners, seniors and veterans.
How some Michigan taxpayers hit by severe storms in 2023 can get a tax break now
Michigan taxpayers hit by storms in August 2023 might have good reason now to amend those returns. How they might claim a personal casualty loss.
Tax Write-Off vs. Tax Deduction vs. Tax Credit: What’s the Difference?
While deductions and credits can both positively impact your tax bill, credits can have the most influence. With a deduction, you are only reducing the amount of income subject to tax, but a credit ...