If you mistakenly file as head of household when you don't qualify, you may owe the IRS money back if you're caught. You also ...

These two tax terms are probably the ones my clients confuse most often. Think of a tax credit as a gift card applied to your ...

One of the best things about being self-employed is that you are entitled to a whole host of boss-less independence, flexible ...

Taxpayers who do not file or request an extension by Tax Day may face penalties, even if they are due a refund.

While having any debt can stress you out, owing money to the IRS can become a nightmare if you don't understand the potential ...

Typically, if your income is less than the standard deduction for your filing status, filing a return isn’t required.

Fortunately, some of these costs are tax deductible ... off enough to make it worth not taking the standard deduction. $14,600 for single filers and married couples filing separately.

President Donald Trump announced Friday a new policy instituting auto loan interest deductions for American ... deduct the interest payments for income tax reasons.” 🚨 POTUS: "We're going ...

US President Donald Trump has announced steep tariffs on auto imports and parts, provoking threats of retaliation from trading partners ahead of further promised trade levies next week. As Asian ...

Tax filing status: Choose from one of the four tax filing statuses available (single ... to taxes. Deductions lower your taxable income by the percentage of your highest federal income tax ...

Where you live can have a direct impact on your tax burden. While federal tax deductions remain consistent nationwide, state-level tax write-offs can impact what you pay in taxes. If you itemize ...