22 Popular Tax Deductions and Tax Breaks - NerdWallet A deduction cuts the income you're taxed on, which can mean a lower bill A credit cuts your tax bill directly Learn more about common tax breaks and write-offs — and how to claim them
Tax Credits and Deductions - NerdWallet A deduction cuts the income you're taxed on, which can mean a lower bill A credit cuts your tax bill directly Learn more about common tax breaks and write-offs — and how to claim them
21 Small-Business Tax Deductions You Need to Know 21 Small-business tax deductions All of these deductions can be claimed by sole proprietorships, as well as C-corps and S-corps, partnerships and LLCs (although there might be different rules for
Tax Credit vs. Tax Deduction - NerdWallet Tax credits and tax deductions both decrease what you owe the IRS, but in different ways Here's the difference, and how you can make them work for you
Payroll Deductions: The Ultimate Guide for Business Owners There are two types of deductions: voluntary deductions, such as health insurance and 401(k) deductions, and mandatory deductions (those required by law), such as federal income taxes and FICA taxes
SALT Deduction: How to Write Off State and Local Tax The state and local tax (SALT) deduction is a federal tax break that allows filers who itemize to deduct up to $10,000 of certain state and local taxes from their taxable income
Schedule A: How This IRS Tax Form Works - NerdWallet Schedule A is an IRS form used to claim itemized deductions on a tax return (Form 1040) See how to fill it out, how to itemize tax deductions and helpful tips