Did you know you can write off college tuition costs? Or job-related moving expenses? And you don't even have to itemize to get these breaks. Did you know that the old Hope college credit – which used to be good for only the first two years of college – has been temporarily enlarged and is now good for the first four years of college? That some new homeowners who took advantage of the special homebuyer’s tax credit have to pay it back . . . and some don’t?
The federal income tax law is packed with a multitude of ways to lower your tax bill. The trick is knowing which deductions and credits are available -- then taking advantage of them. You're probably thinking you need to hire a high-price accountant for that. Not so.
Our tax encyclopedias make it easy to find out what is deductible. We cover all the major areas, from charitable contributions to medical expenses to retirement savings. Check out our easy-to-use guides to find out how you can cut your 2010 tax bill. And here’s more good news: What you learn now can be put into practice in the future, too, to hold down your tax bill year after year after year.
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What's Deductible?
Congress has filled the tax law with opportunities for businesses both large and small to recoup a healthy portion of reasonable and necessary business expenses with tax deductions and credits.
Believe it or not, you actually can ring up tax savings as the result of buying things.
It's good to give. And for your generosity, the IRS rewards you with tax-saving deductions for charitable contributions.
Kids can cost a small fortune, but they can be real money savers at tax time. Check out all the ways children and other dependents can trim your tax bill.
The tax law is filled with breaks to help taxpayers pay for education -- for your children, your grandchildren or even for yourself.
You don’t have to run your own business to rack up tax breaks. Even if you work 9-to-5 for the boss, Uncle Sam may subsidize some of your job-related costs.
Homeowners can claim a slew of write-offs to lower their tax bills.
Investment and Retirement Savings
0% capital gains? Check. Tax-free dividends? Check Tax-free retirement income? Check. There’s a long list of ways to save taxes on your savings..
The list of medical costs that can be deducted stretches to the Mayo Clinic and back but the best way for most taxpayers to benefit has nothing to do with itemizing deductions.
These tax savers don't fall under any of our other Taxopedia categories . . . but that doesn’t mean they won’t save you money.
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You Don’t Want to Retire in Portugal: Here Are Three Tax Reasons WhyRetirement Taxes With the NHR benefit retiring and pension taxes increasing, you might rethink your retirement plans in Portugal.
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Home Depot's Winning Ways Fueled Its 100,000% ReturnHome Depot's wide moat leaves little room for competition – and shareholders have profited as a result.
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Five Scary Things the IRS Can Do If You Owe Back TaxesTax Law Traveling in 2025? The IRS can take your passport (and house) if you don’t pay your tax bill.
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Early Tax Refund Options Could Trap Your CashTax Refunds Don’t be fooled into thinking you’re not getting a loan — because you really are.
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First-Time Filing Taxes? Key Tax Tips to Know for 2025Tax Filing Preparing your IRS taxes for the first time may seem daunting, but here are some return preparation and filing tips to start.
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Legislation Cracking Down on IRS Tax Refund Mail Theft AdvancesIRS A string of bipartisan measures targeting taxpayer refunds, rights, and protections move forward on Capitol Hill.
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Ten IRS Audit Red Flags for Retirees in 2025Retirement Taxes Retirees who think they can escape the IRS audit machine should think again.
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Could ERC Delays Get Worse if Trump Downsizes the IRS?IRS The Trump administration’s push to shave down the IRS can impact taxpayers like you.
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IRS Income Tax Refund Schedule 2025: When Will Your Refund Arrive?Tax Refunds Your 2025 IRS tax refund may arrive sooner than you think. Here’s a schedule for when you can expect your check or direct deposit.
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IRS Tax Refunds Are $1,000 Smaller This Year: Here's WhyTax Refunds Inflation-related changes to the tax code could result in a larger refund for some, but you’ll have to wait.
