General Motors reported, on Oct. 21, its third-quarter net income was $1.32 billion, a 57% decline compared with the year-ago ...

Traditional IRAs and 401 (k)s: Contributions to traditional IRAs and 401 (k)s reduce your taxable income. However, ...

Joy Taylor: Yes. Taxpayers who itemize on Schedule A can deduct qualifying medical expenses to the extent that the total ...

From standard deduction amounts to tax brackets and Medicaid cuts, here’s what individual filers need to know about tax ...

Open enrollment season is here, and for millions of Americans, it’s a chance to start saving through one of the most ...

Modified adjusted gross income (MAGI) is often used by the IRS and other federal agencies to determine your eligibility for ...

ITAT Jabalpur held that additions for unexplained investment in agricultural land cannot be made without proper inquiry into the co-owner’s source of funds. The case has been restored for de novo ...

The provision for income taxes on an income statement is the amount of income taxes a company estimates it will pay in a ...

The income limits for Chapter 7 depend on numerous factors, including a complex calculation called the means test.

Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to ...

If you’re a high-income earner or someone with a diverse investment portfolio, there’s a little-known tax that can have a significant impact on your taxes that is often overlooked – the Net ...

State income tax rates can raise your tax bill. Find your state's income tax rate, see how it compares to others and see a list of states with no income tax.