Tax Deductions & Credits

Learn the important difference between these two ways of reducing your tax bill, and how you can use every tax benefit you're eligible to take.

Explore Deductions & Credits

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How to Use Form 8880 to Report Retirement Plan Contributions
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Recovery Rebate Credit Definition
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Work Opportunity Tax Credit (WOTC)
Here Are the Deductions That Disappeared Due to Tax Law Changes
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Calculating the Home Mortgage Interest Deduction (HMID)
Tax Breaks for Second-Home Owners
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Homestead Exemption
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What Is Standard Deduction in Taxes?
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What's a Tax Credit?
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Learn How Much a Dependent Can Reduce Your Taxes
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Modified Accelerated Cost Recovery System (MACRS) Definition
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What Is Section 1244 Stock?
Mortgage
When Is Mortgage Insurance Tax Deductible?
Form 1045: Application for Tentative Refund
Form 2106-EZ: Unreimbursed Employee Business Expenses
Personal Income Taxes
What Is Form 5405? First-Time Homebuyer Credit/Repayment of the Credit
How to File Form 3903: Moving Expenses
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15 Tax Deductions and Benefits for the Self-Employed
Additional Personal Allowance Expired in April 2000
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What Is an Itemized Deduction?
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7 Insurance-Based Tax Deductions You May Be Missing
How to Deduct Stock Losses From Your Tax Bill
What Does Filing as Head of Household Mean for Your Taxes?
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Earned Income Tax Credit (EITC)
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Tax Deduction Definition
Long-Term Capital Gain or Loss Definition
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The Most Overlooked Tax Deductions
Additional Child Tax Credit
Capital Loss Carryover Definition
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Child Tax Credit
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What Is Tax-Loss Harvesting?
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What Is Tax Avoidance?
What is a Tax Shield?
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Form 4952: Investment Interest Expense Deduction
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What Is the Foreign Tax Credit?
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Tax-Deductible Interest
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What Is the Property Tax Deduction?
Form 4684: Casualties and Thefts
Business Expenses
What Is a Tax Deduction?
I Sold My House. Can I Exclude the Gain From My Income?
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IRS Publication 530 Definition: Tax Information for Homeowners
Annual Investment Allowance (AIA)
Personal Income Taxes
IRS Publication 529 (Miscellaneous Deductions) Definition
Qualified Production Activities Income (QPAI)
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Tax-Exempt Interest
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What is a Dividend Tax Credit?
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Unified Tax Credit Definition
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Ordinary and Necessary Expenses (O & NE) Definition
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What Is Section 1031 of the Tax Code?
Learn about Ordinary Loss
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Qualifying Relative Definition
Hope Credit Definition
For a Secure Future You've Got to Plan for It
IRS Publication 463: Travel, Entertainment, Gift, and Car Expenses
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What Is a Deductible?
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Exemption
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What Is a Non-Refundable Tax Credit?
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What Is Deferred Gain on Sale of Home?
What is recapture?
Give Your Taxes Some Credit