There are a number of different hobbies that some taxpayers turn into businesses. Here’s how they can protect tax breaks on their tax returns.

Before you know it, 2024 will be here. But until then, there may still be time to reduce your 2023 federal tax liability by taking these steps.

Every year, the dollar amounts allowed for various federal tax benefits are subject to change based on inflation adjustments. The IRS recently announced the amounts for 2024.

If you’re selling your principal residence, or you already sold your home in 2023, some or all of the profit may be tax-free. It depends on the amount of profit and your income. Take a look at the basic rules.

Can you deduct a gym membership as a medical expense on your tax return? What about nutritional supplements? The IRS recently answered these and other questions.

If you’re a parent, you know that children are expensive. Fortunately, there’s a federal Child Tax Credit that may help you with the expenses. Here are the current rules.

How much is the standard deduction in 2023? How much do you have to earn this year before you can stop paying Social Security on your salary? Here are some Q&As about these and other tax-related amounts for 2023.

Why is it a good idea to file a tax return early? Here’s the answer to that and other filing season questions you may have.

The end of the year is a good time to examine your portfolio for tax purposes. Here are some strategies that may save you taxes.