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

Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced ...

For 2025, these autos have a Section 179 tax deduction limit of $12,200 in the first year they are used. In fact, if the ...

It was ruled that the bar on fresh claims applies only to assessing officers, not appellate bodies. A valid Section 54F claim must be examined on merits during ...

The home office tax deduction is a tax break that some self-employed people who work from home can take advantage of. Here's ...

Education Minister Fadhlina Sidek has warned schools not to deduct any other fees from the RM150 early schooling aid (BAP) ...

Is rent a tax deduction? You generally cannot deduct rent from federal income taxes but some states offer a renter's credit.

This case addressed the allowability of commission paid to non-resident agents without TDS. The Tribunal held that since the income was not chargeable to tax in India and agents had no PE, Section ...

Personally, I can’t wait for 2025 to exit the building. But as always, there are year-end tax issues to consider, especially in a year that saw significant federal legislation passed. In this season ...

Ahmedabad-based Arjun Saxena and Kavya Saxena purchased a flat with an annual home loan interest of ₹3 lakh. If Arjun had taken the loan alone, he could claim only ₹2 lakh under Section 24B, losing ...

Did our AI summary help? Many parents borrow informally from friends or relatives to fund their child’s higher education, assuming the tax benefits will still apply. Today's Ask Wallet Wise query ...