The Internal Revenue Service is increasing the tax deduction motorists can take for using private vehicles for business, a rare midyear move sparked by high gas prices.

Research shows that a vehicle's age isn't the most important factor when purchasing used cars. Mileage and maintenance history provide better indicators of reliability and remaining lifespan.

For example, a full-time Uber or Lyft driver who can take advantage of the mileage deduction, which increases with every mile driven, may not have much use for another tax break.

This 2023 Chevrolet Camaro ZL1 1LE Coupe features a Summit White exterior, Jet Black leather Recaro seats, and the 1LE Extreme Track Performance package.

If you work for a company that doesn't reimburse your mileage, you cannot use the IRS business standard mileage rate to claim an itemized deduction for unreimbursed employee travel expenses.

Flying domestically within the United States soon? Be sure to have the correct ID for airport security. The REAL ID will replace standard driver's licenses and ID cards as a federally-compliant ...

The Trump administration has asked the Internal Revenue Service to strip Harvard University of its tax-exempt status amid accusations of antisemitism on campus.

President Trump is reversing the Biden plan to increase tax revenue through more enforcement.

For more information and guidance, interested individuals can visit the IRS website and the South Carolina Department of Revenue website.

ATLANTA, GA — Former Atlanta Braves players John Smoltz and Ryan Klesko continue their fight with the federal government over a tax deduction for donating a conservation easement on a parcel of ...

According to the IRS, interest paid on mortgages, student loans and business loans is tax-deductible. Personal interest, such as interest paid on a loan to purchase a car for personal use, is not ...

New tax deduction rules can help self-employed Uber and Lyft drivers save money this tax season. The IRS allows two methods for deducting vehicle expenses. The standard mileage rate for the 2024 ...