If the deductions, losses, or credits on your Form 1040 are disproportionately large compared with your income, the IRS may ...

or credits on your Form 1040 are disproportionately large compared with your income, the IRS may want to take a second look at your return. The same is true with deductions taken on Schedule C.

as these statements calculate depreciation using the straight-line depreciation method or some other form of accelerated cost depreciation method. MACRS is used for tax purposes and not for ...

Itemizing your taxes is great when you are a homeowner. As you file taxes for the 2024 tax year, there are some deductions ...

The VITA program, which the IRS administers, began after the Tax Reform Act of 1969 and provides free tax filing assistance ...

One of the most significant tax incentives for real estate investors has been 100% bonus depreciation, which allows the immediate expensing of certain property components. This provision, which ...

Claiming a tax deduction for mileage can be a good way to reduce how much you owe Uncle Sam, but not everyone is eligible to write off their driving costs. In the past, taxpayers had more options ...

Reps. Brad Schneider (D-IL) and Russ Fulcher (R-ID) discuss the Trump administration's recent DOGE actions and role of 119th Congress. The House will consider legislation to prohibit the president ...

Discussing President Trump's first month in office and political news of the day.

Public affairs events, congressional hearings, speeches, and interviews. Live gavel-to-gavel coverage of the United States Senate from the Capitol Building in Washington, DC. Public affairs events ...

Small businesses generally file taxes using simpler forms, such as Schedule C for sole proprietorships or Form 1120-S for S ... "Topic No. 704, Depreciation." Internal Revenue Service.