A lessee who halts production for less than 40 days and resumes without drilling or reworking does not terminate the lease.

However, it was unclear from the language of Moreno’s bill if auto loan interest would fall in the list of deductions taxpayers may itemize as an alternative to taking the standard deduction, said ...

The fate of President Donald Trump’s tax legislation may rest on whether the GOP can find common ground on tax breaks for high earners in predominantly Democratic states — and the issue also ...

Personal tax deductions are available both above and below the line. Business tax deductions are allowed for ordinary and necessary business expenses. In one case, breast implants were deemed a ...

This is in large part because the standard deduction is $15,000 per person for individual filers ($30,000 combined for ...

Tax deductions reduce your taxable income, while tax credits directly lower your tax bill dollar for dollar. Refundable credits can result in a refund if they exceed your tax bill, while ...

Discussions about the state and local tax deduction (SALT) are back. One reason? Lawmakers are prepping major tax reform since Republicans control the White House, and both chambers of Congress ...