The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how to choose the option that’s best for you.

You can only claim the new senior tax deduction if you were 65 or older at the end of 2025. You must also provide your Social ...

The new 2025 tax bill signed by President Trump includes a federal deduction for overtime pay. Learn who qualifies, how much ...

Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced deduction for seniors.

Many Americans will see bigger refunds and new deductions, while others may be revisiting the dreaded alternative minimum tax ...

Some deductions remain every year, but others change or disappear and new ones crop up. Learn about the best tax deductions and breaks available.

Taxes usually feel straightforward until real life complicates them. Beyond the familiar deductions, the IRS has approved a ...

Donating to charity is a great way to show your giving spirit and can help save money at the same time if you follow key ...

The 2026 tax season can be summed up in two words: Complexity and cash. Many can expect bigger refunds, but detailed rules apply to many tax breaks.

Overtime pay deduction: Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay. The maximum annual deduction is $12,500 ($25,000 for joint ...

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions ...

High-earning business owners now have an opportunity to take a massive tax deduction thanks to the One Big Beautiful Bill Act. Still, they may have to implement some financial planning advice to ...