tax deduction

Thanks to confusing and often misunderstood rules surrounding child-care tax breaks, the author has overpaid Uncle Sam to the tune of $1,000, missing out on $200 in tax savings each year for the past half-decade. Read on to avoid her mistake -- unless you enjoy filing mounds of amended returns.

Unfortunately, our current tax system is like a big game, with taxpayers looking for every deduction they can find that will help reduce their tax bill. While you should definitely take advantage of every deduction that you're entitled to, there's also a limit on how far you should push things....

Did your roof collapse under the heavy weight of the snow? Did lightning strike your guest house? You probably know that insurance can protect your home and possessions during damaging weather (which we've had a lot of this year), but did you know that you may claim tax deductions for weather...

When my husband and I first started our business, we turned part of our house into a proper office. It was furnished with two desks, computers, and a copy machine on one side; a small conference table and chairs on the other. A separate phone line and fax ran only to that part of the house. Ten...

New legislation introduced by, among others, Sen. Al Franken (D-Minn.), would cut off the federal tax deduction for drug companies that make those "direct-to-consumer" ads, the ones on TV convincing you to pop prescription drugs like candy. There's plenty to hate about those ads. They're...

Everyone knows their child is the best looking in the world. Admit it. You know yours is. I know mine is. Now's the time to prove it, as long as your child is a baby who is born this month. The second annual nationwide search by TurboTax for America's Cutest Last-Minute Tax Deduction is on, so...

Put away the noisemakers! It isn't the new year yet. And you're probably searching around the net thinking, how can I decrease my tax burden before the year expires?If you're on the West Coast like me, you may still have time to use up your health care flexible spending account by going to an...