The Latest Breaking News from Tax Deduction

The cabinet has extended the double tax deduction period for another two years for contributions made to 13 public health foundations via E-donation.

WASHINGTON: Massive losses and large tax deductions in Donald Trump’s returns reveal how the former president was able to use the tax code to minimize his income tax payments.

Tax deductions lower your taxable income and the amount of income tax you have to pay. Explore some of the most popular deductions here.

The fight over the $10,000 cap on state and local tax deductions has been pronounced in Northeastern states and California, where property taxes are highest in the nation.

Senate Majority Leader Charles E. Schumer pledged to move ahead with a procedural vote Tuesday afternoon on the semiconductor bill.

A California bill related to the state’s 2022-2023 budget includes a proposed tax credit for union dues. Once implemented, the tax credit would be the first of its kind in the U.S. Union dues are currently tax-deductible in California and some other states. (A tax deduction lowers a person’s taxable…

The clock is ticking towards the end of the financial year, which means it's time to start preparing your tax return. Here are some COVID-era deductions.

With the end of the financial year fast approaching it's time to turn your mind to maximising work-related tax deductions.

Contributions you make to a traditional IRA may be tax-deductible. Find out the income and deduction limits and how to report on your taxes.