A deduction cuts the income you're taxed on, which can mean a lower bill. A credit cuts your tax bill directly.

From increased standard deductions to special write-offs for educators and self-employed individuals, understanding these ...

Self-employment tax requires you to pay 15.3% of your total earnings. This tax is levied to pay into Social Security and ...

Claiming a tax deduction for mileage can be a good way to reduce how much you owe Uncle Sam, but not everyone is eligible to write off their driving costs. In the past, taxpayers had more options ...

In the complex world of tax deductions can be daunting, but understanding which medical expenses you can deduct can ...

Those who qualify and rely on the internet to conduct business should include internet costs with Utility expenses when ...

Less than four in ten households are saving enough for a 'moderate' retirement, a new report warns, and some groups are most ...

The rules are strict around who is eligible to deduct a home office, and calculating the deductions can be complicated.

Small-business owners and freelancers who work at home can still itemize tax deductions for expenses like rent, mortgage ...

There aren't many worse financial feelings than calculating your tax return and realizing you aren't getting a refund.

It's an attractive alternative to a pension for self-employed people paying basic rate tax. 'Higher rate taxpayers would still be better off with a pension, given tax relief is given at your ...

If you’re thinking of giving to charity this year, a securities donation might be the most tax-effective way to do so, ...