Discover how same-year tax deductions apply to capital expenditures, with insights into Section 179 deductions and the difference between CapEx and OpEx for tax purposes.
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A new tax deduction worth up to $12,000 is now available for seniors but there's a catch
A guide to the new 'Bonus Deduction' from the OBBB. Learn who qualifies for the up to $6,000 (single) or $12,000 (married) ...
From the $20,000 529 plan expansion to the return of the student loan "tax bomb," the new Trump tax bill has overhauled how ...
Financial advisor fees are not tax-deductible now, but there are still tax benefits from working with an advisor.
The White House has reported that, on average, Americans will receive about $1,300 more in their pocket through the deduction.
Learn how to calculate depreciation for tax deductions using GAAP methods like straight-line and declining balance for optimal savings.
As tax season rolls around, you may have a number of questions on your mind — including whether your mortgage interest is deductible for tax year 2025. The short answer is yes, but whether or not ...
The IRS has issued proposed regulations for the temporary car loan interest deduction enacted under the new tax law.
Seniors 65 and older can claim a new federal tax deduction up to $6,000 for 2025, but it's not automatic. Learn how to get ...
The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. IRS guidance can help figure the deductions.
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