mortgage interest, business expenses and charitable donations. Income, sales, real estate and personal property taxes: We'll also take the state and local tax deduction, which allows us to deduct up ...

President Donald Trump announced Friday a new policy instituting auto loan interest deductions for American-made cars. “If ...

Owning a home comes with costs, but it also provides tax benefits that can lower your taxable income. For those filing taxes in 2025, deductions like mortgage interest and home office expenses ...

President Trump’s proposal for car loan interest tax deductions on US-made vehicles sounds ideal, but some experts say the idea is flawed.

Homeowners have two choices when claiming deductions to reduce their taxable income: the standard or itemized deduction. But ...

Trump proposes tax deductions on auto loan interest for U.S.-made cars, but analysts question if savings will offset ...

A reverse mortgage has pros and cons — you can receive income in retirement years, but your home acts as collateral. Decide ...

itemizing your deductions could net you a bigger tax break.Some expenses you can deduct by itemizing include: Out-of-pocket medical expenses exceeding 7.5% of your gross income State and local taxes ...

There are some caps on mortgage interest deductions for mortgages ... Fortunately, the IRS does offer tax deductions on income, sales and property taxes for most homeowners of up to $10,000 ...

Simple Form 1040 returns only (no schedules except for the earned income tax credit, child tax credit and student loan interest). Tax deductions for homeowners Mortgage interest Discount points ...

NEXT explains that if you're an independent contractor, it's your job to pay taxes on your own—and you'll want as many 1099 ...