Action 2 News’ Elyse Noe sat down with a local CPA who breaks down what qualifies, what doesn’t and what you need to know before New Year’s Day.

Individuals who choose to itemize their deductions on their tax returns can deduct charitable contributions of money or property. This means that those who opt for the standard deduction cannot deduct ...

The Internal Revenue Service has announced that it plans to crack down on improper charitable deductions claimed for donations of patents and other types of intellectual property. Taxpayers who claim ...

Political donations are not tax deductible under federal law, even if you’re contributing to support your favorite candidate or party. This rule applies to individuals and businesses. However, a few ...