You can deduct ordinary and necessary travel expenses you incur while traveling on business. Your records should show the amount of each expense for items such as transportation, meals and lodging.

Part of being an American is looking toward Tax Day with either dread or anticipation — no matter how far out it is. Will you ...

The charitable contributions deduction reduces taxable income by allowing individual taxpayers and businesses to deduct contributions of cash and property to qualified charitable organizations.

U.S. taxpayers are able to deduct donations equal to up to 60% of their adjusted gross income (AGI) annually. They must use Form 1040 or Form 1040-SR and itemize their deductible contributions on ...