How much tax you owe depends on your income. However, the federal government, through the Internal Revenue Service, allows you to claim deductions that reduce your taxable income and the amount of tax ...

Not to start another tax thread, but well anyway. Couple of questions about Schedule A which is for Itemized Deductions.<BR><BR>- State and local income taxes (line 5). The instructions say you can ...

Claiming the standard deduction is easier because you don’t have to keep track of what you spent, or hold on to supporting documents like receipts, bank statements, medical bills and tax forms.

Tax credits and tax deductions both decrease what you owe the IRS, but in different ways. Here's the difference, and how you ...

Freeman Law’s “The Tax Court in Brief” covers every substantive Tax Court opinion, providing a weekly brief of its decisions in clear, concise prose. For a link to our podcast covering the Tax Court ...