Taxpayers who claim the standard mileage rate deduction for the miles they log for business purposes will be able to write ...

The same rate of 21 cents per mile applies for specific moving purposes for qualified active-duty members of the Armed Forces. The IRS notes that under the Tax Cuts and Jobs Act taxpayers cannot ...

President Trump and Elon Musk aim to slash the IRS budget and workforce. VITA (Volunteer Income Tax Assistance) is a cost ...

With most pandemic-era policy changes in the rearview mirror, the 2025 tax season is mostly business as usual.

The general rule is that any ordinary and reasonable expense you pay while conducting a business activity is deductible in the year that it was paid.

If you opt for the standard mileage rate (67 cents per mile for tax year 2024), you calculate your deduction based on the ...

According to the IRS, the more money you earn, "the tax rate on the next layer of income is higher." It's important to note, however, that if your income moves you into a higher tax bracket ...

One fast tax tip to review before filing your 2024 federal income tax return is the IRS mileage rate. It's a ...