(Tax Year 2024 – Filed in 2025) Overview Even if you’re a W-2 employee and don’t itemize deductions, you can still legally reduce your taxable income and claim valuable...
(Tax Year 2024 – Filed in 2025) Overview As a W-2 employee, your paycheck may include various deductions taken out for benefits or contributions. These deductions are categorized as...
Introduction Teachers often spend their own money on classroom supplies, professional development, and continuing education, yet many are unaware of the tax deductions and credits available to them. Whether...
Introduction Healthcare professionals, including doctors, nurses, dentists, therapists, and private practitioners, face unique tax challenges due to high income, self-employment taxes, and business expenses. Strategic tax planning can help...
Introduction The IRS Free File Program allows eligible taxpayers to file their federal tax returns for free using IRS-approved tax software. For 2025, the IRS has expanded eligibility and...
Introduction The Inflation Reduction Act (IRA), signed into law in 2022, introduced significant tax provisions that impact individuals, businesses, and self-employed taxpayers. In 2025, several key provisions continue to...
Introduction The IRS standard deduction is a key tax benefit that reduces taxable income, lowering the amount of taxes owed. Each year, the IRS adjusts the standard deduction to...
Introduction The IRS adjusts tax brackets annually to account for inflation and economic changes. For the 2025 tax year, the tax brackets have been updated to reflect cost-of-living adjustments....
Introduction Many taxpayers miss out on valuable deductions simply because they don’t know they exist. The IRS tax code allows for several deductions that can reduce taxable income, but...
Introduction Charitable donations can lower your tax bill while supporting causes you care about. The IRS allows deductions for qualified contributions, but specific rules apply. To claim the deduction,...