The corporate deduction on Form 1120S is not subject to any of these limitations.

Millions of U.S. workers who earn tips and overtime pay may be eligible for a federal tax break when they file their 2025 ...

Premiums for health insurance are tax deductible, as these are classified as medical expenses by the IRS. Deductions are filed by either selecting the standard deduction or itemizing.

As with tips and overtime, the IRS will provide transition relief for tax year 2025 for interest recipients—this means more ...