What Does Tax-Deductible Mean? The U.S. tax system can be a bit convoluted, and if you’re trying to learn every single aspect about filing taxes, you’ll find yourself deep in a rabbit hole. The good ...

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

One of the easiest ways to make your business more profitable (without working any harder) is to identify all of your expenses and those that are tax-deductible for your small business. These rules ...

For a long time, the standard deduction has been a straightforward option for many U.S. taxpayers. It allows most filers to reduce their taxable income without needing to itemize deductions. The ...

It might seem easier to take the standard deduction rather than itemize your deductions, but you should weigh this question carefully. Claiming the Standard Deduction is certainly easier. To itemize, ...

Tax deductions reduce your taxable income, but tax credits reduce your bill dollar for dollar. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Filing taxes can feel overwhelming, but one of the most important decisions you'll make is also one of the simplest: whether to take the standard deduction. For single filers, this deduction offers a ...

David McMillin writes about credit cards, mortgages, banking, taxes and travel. Based in Chicago, he writes with one objective in mind: Help readers figure out how to save more and stress less. He is ...