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

The section 179 deduction allows a small business to take a tax deduction for the entire cost of certain property and equipment in the year it buys that property. That produces a larger, more ...

The sales tax deduction lets you deduct the state and local sales taxes you've paid during the year, but only if you itemize ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, ...

Tax deductions reduce your taxable income, potentially lowering what you owe. Itemizing deductions can outweigh the standard deduction if summed deductions exceed it. Tax credits directly decrease ...

This guide was reviewed by a Business News Daily editor to ensure it provides comprehensive and accurate information to aid your buying decision. Section 179 is a federal rule intended to help small ...

One of the biggest tax decisions that a couple can make is whether to take the standard deduction or itemize. The standard deduction offers a straightforward way to reduce your taxable income. In 2025 ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. She ...

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.