The Child Tax Credit helps eligible parents and guardians reduce their federal tax bill for each qualifying child. .

This credit lets you claim a portion of work-related expenses for the care of qualifying children or dependents so you can work or look for work.

For the first four years of post‑secondary education, you may claim a credit for qualified tuition, fees and course materials—offsetting up to 100% of the first $2,000 and 25% of the next $2,000 of expenses.

Unlike the American Opportunity Credit, this credit applies to all years of higher education and some continuing education, making lifelong learning more affordable.

If you paid interest on qualified student loans, you may deduct up to $2,500 per year from your taxable income, subject to income limits.

Adoptive parents may be eligible for a non‑refundable credit to offset reasonable and necessary adoption fees, court costs and travel expenses.

The EITC benefits low- and moderate‑income workers by reducing their federal taxes and, in many cases, increasing refunds:contentReference[oaicite:1]{index=1}.

When you itemize, you may deduct cash or property donated to qualified non‑profit organizations, up to certain limitations.

Itemizing taxpayers may deduct unreimbursed medical and dental expenses that exceed a percentage of their adjusted gross income.

Taxpayers who itemize may deduct certain property, income or sales taxes paid to state and local governments, subject to a combined limit.

If you itemize, you can generally deduct the interest you pay on loans used to buy, build or substantially improve your home:contentReference[oaicite:2]{index=2}.

Individuals who itemize may deduct gambling losses up to the amount of their gambling winnings, provided proper documentation is kept.

Traditional 401(k) contributions reduce your taxable income by the amount contributed:contentReference[oaicite:3]{index=3}, providing an immediate tax benefit.

Contributions to a traditional IRA may be fully or partially deductible depending on your income, tax‑filing status and participation in an employer plan.

Also known as the retirement savings contributions credit, this benefit rewards low‑ and moderate‑income taxpayers for contributing to qualified retirement plans.

Eligible K‑12 educators may deduct up to $300 of out‑of‑pocket costs for classroom supplies, even if they don’t itemize.

You can deduct your HSA contributions from taxable income, and any unused funds roll over each year:contentReference[oaicite:4]{index=4}.

Self‑employed individuals may deduct a portion of home expenses when a specific area is used regularly and exclusively for business.

If you’re self‑employed, you can deduct the employer‑equivalent portion of your Social Security and Medicare taxes.

Businesses may recover the cost of qualifying equipment or property through depreciation or choose to expense it immediately under Section 179.

Taxpayers who install qualifying energy‑saving improvements—such as solar panels or advanced insulation—may be eligible for credits or deductions.

Losses due to federally declared disasters or theft may be deductible when they meet certain thresholds and documentation requirements.