Learn how tax deductibles work to lower your taxes. Discover common deductions like student loan interest, charitable ...

Tax credits are generally more valuable than tax deductions. There are many types of each: nonrefundable, partially refundable and fully refundable tax credits, and standard vs. itemized deductions, ...

Discover what medical expenses are deductible, including examples like insurance premiums and prescriptions, and learn how ...

Two types of tax breaks stand out among all the lingo: credits and deductions. Each lowers your tax liability, which is the total annual tax owed on your income. (That figure can be found on line 24 ...

It's tax season, and Americans are confronted by a lot of tax jargon when preparing their returns. Stream NBC 5 for free, 24/7, wherever you are. Two types of tax breaks stand out among all the lingo: ...

About 144 million Americans may qualify for the 2026 universal charity deduction, while high earners face new IRS limits.

Starting and running a small business is expensive. There are many different costs that go into operating a business, but many can be tax write-offs. For an expense to be deductible, the cost must be ...

Many people will be shocked when they discover the intricate rules — and lack of supporting paperwork — when filing 2025 federal income tax returns.

The One Big Beautiful Bill brought several changes to personal income taxes. Learn what you need to know for the upcoming tax season.