A tax write-off or deduction are used by small businesses and large corporations alike. Deductions lower the the amount of income that is taxable.

In Article Audio PlayerBut tax law enforcement has been weakening in recent years as the IRS struggles to maintain the resources to fight evasion, potentially allowing more individuals and ...

Higher standard deductions. The $6,000 bonus deduction for seniors. The bigger child tax credit. The $40,000 cap on deducting state and local taxes on Schedule A of the Form 1040. The new tax ...

One of the most high-profile examples of tax incentives to encourage investment in decarbonisation is the US Inflation Reduction Act (IRA) tax credits, which were enacted in August 2022.

This is different than lesser known tax deductions or strategies that are intentionally available for taxpayers to save money. Let's break down how loopholes work, common examples and how they ...

In our tax reform debate, one matter seems quite a bit off. There is not going to be a big drop in the top rate of the income tax. The 39.6% rate might go only to 35%, with an option to keep it ...

Opinion: As the Montana Legislature convened in January 2025, the imperative communicated by constituents was to address the ...