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 ...

As tax season approaches, many homeowners find themselves sifting through receipts and financial documents, searching for ...

Deductions, also sometimes called tax write-offs, are eligible expenses that you can deduct on your return to lower the amount of income that gets taxed. There are many valuable self-employment ...

Schedule C is a treasure trove of tax deductions for self-employed people ... on the hunt to make sure you have the ...

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 ...

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

One question you may have is whether you can write off your home insurance premiums ... The IRS allows self-employed individuals and small business owners to claim a home office deduction if ...