Tax Deductions

No Tax on Tips Deduction: How It Works and Who Qualifies (Tax Years 2025–2028)

Up to $25,000 of qualified tips can be deducted for 2025 through 2028 if your occupation is on the IRS list, the tips were voluntary and reported, and you have a valid SSN and file jointly if married. Here is how Schedule 1-A applies the cap and phase-out.

Who Qualifies for the New $6,000 Senior Deduction? Age, Income and SSN Rules

The enhanced deduction for seniors is worth up to $6,000 per person for 2025 through 2028 if you are 65 by year end, have a valid SSN and file jointly when married. It phases out above $75,000 of MAGI ($150,000 joint) and does not exempt Social Security.

10 Tax Deductions You’re Probably Missing in 2026

Business Meal Deductions: What Is Allowed in 2026

Rental Property Tax Deductions: What Landlords Can Claim

HSA Tax Benefits: How Health Savings Accounts Reduce Your Taxes

Home Business Tax Deductions (Nolo) Review: A Field Guide for Sole Props

Stephen Fishman's perennial Nolo title walks through every legitimate home-based-business deduction, with IRS citations, worked examples, and audit-avoidance guidance.

Every Landlord's Tax Deduction Guide Review: Essential for Rental Owners

Stephen Fishman's 750-page landlord reference covers Schedule E, depreciation, repairs-vs-improvements, passive-loss limits, and 1031 exchanges with worked examples.

Medical Expense Deduction: The 7.5% AGI Threshold Explained

Home Office Deduction: What You Can Claim in 2026

Last-Minute Tax Deductions You Can Still Claim in 2026

Last-Minute Tax Deductions You Can Still Claim in 2026 Filing season is winding down and you want to make sure you have not missed any deductions before you submit. Some tax-saving moves are only available before Decemb

Small Business Tax Deductions: 20 You Should Know

From vehicle mileage to health insurance premiums, small business owners have access to dozens of deductions. These 20 are the most valuable.

Farm Income and Agricultural Tax Deductions

Farmers file Schedule F and can deduct equipment, feed, seed, and land improvements. Income averaging and conservation deductions provide additional tax savings for agriculture.

Energy Tax Credits 2026: Solar, EV, and Home

The Inflation Reduction Act provides tax credits for solar panels, heat pumps, insulation, and electric vehicles. Learn which credits you qualify for and how much you can save.

Having a Baby: Tax Credits and Benefits for Parents

A new baby means a new dependent, Child Tax Credit, and possibly the Earned Income Tax Credit. Learn every tax benefit available to new parents in 2026.

Vehicle Mileage Deduction 2026: Rules and Rates

The IRS standard mileage rate for 2026 applies to business, medical, and charitable driving. Learn when to use mileage vs actual expenses for the bigger deduction.

SALT Deduction Cap: How It Affects Your Taxes

The SALT deduction cap ($40,000 for 2025 and $40,400 for 2026; $20,000 and $20,200 if married filing separately; lower at high incomes) limits how much state and local taxes you can write off on federal returns. Learn workarounds including pass-through entity elections available in many states.

Child Tax Credit 2026: Eligibility and Amount

The Child Tax Credit provides up to $2,200 per qualifying child under 17 for 2025 and 2026. Income phaseouts begin above $200,000, or $400,000 if filing a joint return. Learn eligibility rules and how to claim it.

Child Tax Credit 2026: How Much and Who Qualifies

The Child Tax Credit provides up to $2,200 per qualifying child for 2025 and 2026. Learn income limits, age requirements, and how to claim it on your return.

Standard Deduction 2026: Amounts by Filing Status

For tax year 2026, the IRS sets the standard deduction at $16,100 for single filers, $32,200 for married couples filing jointly and $24,150 for heads of household. For 2025 returns (filed in 2026), it is $15,750, $31,500 and $23,625. Additional amounts apply for those 65 and older or blind.

Earned Income Tax Credit (EITC) 2026: Complete Guide

The EITC can be worth up to $7,830 for qualifying families. This often-overlooked credit lifts millions out of poverty. Check if you qualify.

Energy Tax Credits for Home Improvements 2026

Solar panels, heat pumps, insulation, and energy-efficient windows can qualify for federal tax credits up to $3,200 per year. Plan installations before year end.

How to Deduct Business Meals in 2026

The business meal deduction is back to 50% in 2026. Learn which meals qualify, documentation rules, and the difference between meals and entertainment.

Student Loan Interest Deduction 2026 Guide

You can deduct up to $2,500 in student loan interest even if you do not itemize. Learn income limits, qualifying loans, and how to claim the deduction.

Electric Vehicle Tax Credit 2026: Complete Guide

The federal EV tax credit offers up to $7,500 for new electric vehicles and $4,000 for used EVs. Assembly, price, and income limits determine eligibility.

Electric Vehicle Tax Credit 2026: Eligibility Rules

The federal EV tax credit provides up to $7,500 for new electric vehicles meeting domestic assembly and battery requirements. Check if your vehicle qualifies for 2026.

Education Tax Credits: AOTC vs Lifetime Learning

The American Opportunity Tax Credit provides up to $2,500 for the first four years of college. The Lifetime Learning Credit covers $2,000 for any post-secondary education. Compare both.

Tax Guide for Teachers: Educator Expense Deduction

Teachers can deduct up to $300 in unreimbursed classroom expenses without itemizing. Learn which supplies qualify, how to claim the deduction, and additional credits available.

Vehicle Tax Deductions: Mileage vs Actual Expenses

The standard mileage rate for 2026 is 67 cents per mile. Actual expenses include gas, insurance, repairs, and depreciation. Learn when each method saves more and how to switch between them.

Charitable Donation Tax Deductions: Rules for 2026

Cash, property, and stock donations are all deductible if you itemize. Learn documentation requirements, limits, and the $300 standard deduction workaround.

Dependent Care FSA vs Tax Credit: Which Saves More

The Dependent Care FSA lets you set aside $5,000 pre-tax for childcare while the Child and Dependent Care Credit provides 20-35% of up to $6,000 in expenses. Compare which saves more.

Medical Expense Deductions: What Qualifies in 2026

Medical expenses exceeding 7.5% of your AGI are deductible if you itemize. Learn which expenses qualify and how to track them properly.

Bunching Deductions Strategy to Save Thousands

Bunching means concentrating deductible expenses into alternating years to exceed the standard deduction threshold. This legal strategy can save thousands over time.

Education Tax Credits: AOTC vs Lifetime Learning

The American Opportunity Tax Credit and Lifetime Learning Credit can save students and parents up to $2,500 per year. Learn which one to claim.

Tax Credits for Teachers: Educator Expense Guide

Teachers can deduct up to $300 in unreimbursed classroom supplies without itemizing. Learn what qualifies and how to claim the educator expense deduction.

Home Office Deduction: Simplified vs Regular Method

The simplified method provides $5 per square foot up to $1,500. The regular method calculates actual expenses based on the percentage of your home used for business. Compare both methods.

Student Loan Interest Deduction: Rules and Limits

You can deduct up to $2,500 in student loan interest even without itemizing. Income limits apply. Learn who qualifies, what loans count, and how to claim this above-the-line deduction.

QBI Deduction Explained: Qualified Business Income

The Section 199A deduction lets eligible business owners deduct up to 20% of qualified business income. Learn who qualifies, income limits, and how to calculate your deduction.

Business Meals Deduction: What Is Still Deductible

Business meals are 50% deductible when directly related to business. The 100% restaurant deduction expired. Learn what qualifies, documentation requirements, and common mistakes to avoid.

Tax Deductions for Content Creators and Influencers

YouTube, TikTok, and Instagram creators can deduct equipment, software, home office, travel, and more. Here are the top deductions for content creators.

Home Office Tax Deduction: Who Qualifies in 2026

The home office deduction can save self-employed workers thousands. Learn the simplified and regular methods, plus who qualifies (W-2 employees do not).

Home Office Tax Deduction: Full Rules and How to Claim It

Learn the IRS rules for the home office tax deduction: the regular and exclusive use test, simplified vs. actual expenses methods, who qualifies, and how to calculate your deduction.

Rental Property Tax Deductions 2026: What Landlords Can Write Off

Rental income is taxable but offset by depreciation, repairs, and mortgage interest. Learn how to report rental income, deduct expenses, and use the $25,000 loss allowance.

Standard vs Itemized Deductions: Which Saves More?

The standard deduction for a single filer is $15,750 for 2025 returns (filed in 2026) and $16,100 for tax year 2026. But itemizing could save you more if you have significant mortgage interest, state taxes, or charitable donations.

Standard Deduction vs Itemized Deductions: Which Saves You More?

The standard deduction is $15,750 (single) or $31,500 (married filing jointly) for 2025 returns, and $16,100 or $32,200 for tax year 2026. Learn when itemizing beats the standard deduction and how to calculate which option saves you more.