The charitable donation tax deduction lets you write off qualified gifts to nonprofit organizations, but there are rules to ...

Some deductions remain every year, but others change or disappear and new ones crop up. Learn about the best tax deductions ...

Exemptions, deductions and rebates may sound similar, but they work at different stages of tax calculation and directly ...

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Overtime pay deduction: Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay. The maximum annual deduction is $12,500 ($25,000 for joint ...

Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.