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 Security number on your tax return and have a modified adjusted gross ...

Exemptions, deductions and rebates may sound similar, but they work at different stages of tax calculation and directly influence how much tax a taxpayer finally pays ...

Here's what to know about a tax credit vs. deduction, including how each works and how they can reduce your tax bill and improve your tax refund amount.

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 proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.

For Americans 65 and older, the 2025 and 2026 tax years are unusually generous. A new senior-focused deduction stacks on top ...

Wondering how much tax relief you can claim? Learn how IRS credits, deductions, payment plans and settlements affect the ...

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

The 2018 Tax Act created a new deduction for qualified business income earned by an individual. The basic deduction is 20% of ...

Learn how comprehensive tax allocation reconciles tax and financial reporting, uncovering discrepancies in income, expenses, ...