Discover what medical expenses are deductible, including examples like insurance premiums and prescriptions, and learn how they can reduce your taxable income.

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Lea Uradu, J.D., is a Maryland state ...

Many tax deductions, such as charitable donations and business supplies, are well known, but some are more obscure. With tax season upon us, here’s a look at how tax deductions work and three ...

Donating to charities offers tax benefits under Section 80G of the Income Tax Act. The Income Tax Department has clarified rules for these deductions. Taxpayers can claim benefits for donations to ...

When you file your taxes, deductions reduce your income and the amount you owe. Taxpayers have two choices: They can claim a standard deduction, or they can itemize and claim specific deductions ...