The sales tax deduction lets you deduct the state and local sales taxes you’ve paid throughout the year, but only if you itemize your deductions. If you live in a state with no income tax or have made ...

The home office deduction allows some filers to claim a tax break for expenses incurred working remotely. If you were a W-2 employee in 2024 — meaning your company withholds taxes from your paycheck — ...

Thomas is a native of upstate New York and a graduate of the University at Albany. As a former member of CNET's How To team, he wrote about the intersection of policy, information and technology, and ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Composite by ...

Giving to a good cause feels great — and if you itemize your taxes, it can also help lower your tax bill. The charitable donation tax deduction lets you write off qualified gifts to nonprofit ...

Pop quiz: You own a business that has an office on the other side of town. You buy a new vehicle, which you drive 300 miles a week for these three instances: The question is, how much of the above is ...