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 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 Self-employed individuals face unique tax obligations, including self-employment tax, estimated quarterly payments, and business deductions. The new tax laws for 2025 bring several changes that impact freelancers, gig...
Introduction The IRS has introduced stricter reporting requirements for side hustle income in 2025, affecting freelancers, gig workers, and independent contractors. With the expansion of third-party payment reporting and...
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 The Child Tax Credit (CTC) is a valuable tax benefit for families with dependent children, helping to reduce tax liability and, in some cases, provide a refund. The...
Introduction Small business owners and self-employed individuals often use their vehicles for work-related purposes. The IRS allows deductions for business-related car expenses, but specific rules apply. You can choose...
Introduction Homeowners who invest in energy-efficient upgrades can qualify for valuable tax credits, helping them save money while reducing their carbon footprint. The IRS offers two main energy tax...
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,...
Introduction Higher education can be expensive, but the IRS offers tax credits that help students and parents reduce their tax burden. The American Opportunity Tax Credit (AOTC) and the...