The Internal Revenue Service has announced several changes for the 2002 tax year that adjust tax laws to reflect inflation. One change affects the way donors calculate their charitable deductions.

Business taxpayers are often entitled to extra self-employed and small business tax deductions, which can potentially lead to ...

The Internal Revenue Service has announced several changes for the 2001 tax year that adjust tax laws to reflect inflation. One change affects the way donors calculate their charitable deductions.

In a case of first impression for the Eleventh Circuit, the court affirmed a Tax Court holding that expenses of activities not engaged in for profit, i.e., hobbies, are allowable only as miscellaneous ...

President Donald Trump’s One Big Beautiful Bill Act (OBBBA) raised the state and local tax (SALT) cap deduction to $40,000 from the previous $10,000, as previously reported by GOBankingRates. For ...