Homeowners can deduct the interest paid on a HELOC from their federal income taxes as long as they use the funds for home ...

Rules and reporting requirements depend on whether the cash is income or a gift, how much money changes hands and if you're ...

During his 2024 presidential campaign, President-elect Donald Trump suggested that he is considering instituting a policy of ...

The Tax Cuts and Jobs Act (TCJA), passed in 2017, created a golden opportunity for families to preserve and maximize the ...

Interest paid on a home equity loan may be tax deductible if you use the funds for specific purposes. Find out whether you ...

Practitioners should address regulatory changes, focus on practice management, and help clients plan for the scheduled TCJA sunset.

If you have a mortgage, you'll probably receive an IRS Form 1098 in the mail. Your mortgage lender is required to use this ...

Making the Tax Cuts and Jobs Act permanent would be a good start for Congress in 2025. But it’s time to take an even bigger ...

At least two forms deal with student loans and tuition, financial obligations that can be costly and overwhelming. Here's how they work.

As a result, you might need to hire a certified public accountant (CPA), enrolled agent (EA) or other tax professional to prepare and file your taxes. If you decide to hire someone, it’s best to start ...

Itemized Tax Deductions] People who take the standard deduction won ... In 2023, 63% of contributions to Fidelity Charitable were in the form of noncash assets, such as stocks. Some donor-advised ...

The Internal Revenue Service (IRS) allows you to use such contributions as itemized deductions on your taxes. The form can be utilized by individuals, partnerships, and corporations. Each form has ...