Browsing: Deduction

The standard deduction is a fixed dollar amount that individuals can subtract from their adjusted gross income (AGI) in order to reduce taxable income. The standard…

Skynesher | E+ | Getty ImagesWith tax season underway, many filers are expecting bigger refunds due to retroactive changes enacted in President Donald Trump’s “big beautiful…

Twenty47studio | Moment | Getty ImagesTax changes for 2026 offer new ways for individuals ages 65 and over to plan financially.That is largely due to a…

A Starbucks barista demonstrates how to brew coffee using a siphon at the Reserve Store in Seattle.StarbucksWith tax season approaching, millions of workers could soon claim…

Greg Hinsdale | The Image Bank | Getty ImagesIf you live in a high-tax state, you could see some relief from income and property levies for…

Ugur Karakoc | E+ | Getty ImagesThe U.S. Department of the Treasury and IRS on Friday issued proposed regulations with more details about President Donald Trump’s…

Lighthouse Films | Digitalvision | Getty ImagesThe U.S. Department of the Treasury in August released a preliminary list of 68 occupations that may be eligible for…

President Donald Trump’s “big beautiful bill” raised the state and local tax deduction, known as SALT, to $40,000 for 2025. The change comes less than a…

President Donald Trump arrives to speak on his plan to end tax on tips in Las Vegas, Jan. 25, 2025.Mandel Ngan | Afp | Getty ImagesWho…

U.S. President Donald Trump signs the sweeping spending and tax legislation, known as the “One Big Beautiful Bill Act,” at the White House in Washington, D.C.,…