Tax Deductions

Tax Advantages

Congressional Incentives Encourage Domestic Petroleum Development Oil and Natural gas from domestic reserves helps to make our country more energy [...]

Oil and Gas Tax Benefits

Direct participation in oil and gas can generate several tax benefits. These benefits range from large up front deductions for intangible drilling costs (IDC), [...]

10 sweet often-overlooked tax breaks

The goal of every taxpayer is to make sure the IRS gets as little as possible. For that to happen, you need to take every tax deduction, credit or other income [...]

Eliminating Second Home Mortgage Deduction Could Raise $80 Billion

Repealing the mortgage interest deduction on second homes and home equity loans could raise as much as $80 billion over 10 years, according to a newly released [...]

Craziest Tax Deductions

Carrier Pigeons Call it extreme communication. One taxpayer was so distrustful of technology that he wouldn't use a telephone or computer. That posed a [...]