Tax rules in 2026 tilt even more heavily toward people who take the standard deduction, thanks to new above the line write ...

Retirees are staring at a rare piece of good news in the tax code: a targeted senior deduction that could effectively put ...

Few pieces of legislation have sparked as much discussion as the One Big Beautiful Bill Act. Since its passage, the act has been celebrated by some for its tax cuts and denounced by others for its ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Photo by JIM WATSON/AFP via Getty ...

Beginning in 2026, tax filers who claim the standard deduction may be allowed to take a new above-the-line deduction for cash contributions to qualifying charities. You will not need to itemize ...

For retirement savers and retirees, the new year brings more than the usual inflation adjustments to retirement contributions ...

The IRS has set the 2026 tax brackets and standard deductions, keeping seven rates in place while shifting the income thresholds upward to account for inflation and to reflect changes enacted in the ...

The standard deduction is rising in 2026 by $350, or $700 for couples. The tax brackets are changing slightly as well. Assuming the same income, your tax bill could go down slightly for 2026. The ...

American taxpayers aged 65 and older will receive a new $6,000 bonus tax deduction next year as part of President Donald Trump’s One Big Beautiful Bill Act. The temporary deduction comes alongside ...

The Internal Revenue Service adjusts tax brackets higher to ensure that inflation doesn't accidentally push workers into higher brackets. President Donald Trump's large spending bill passed by ...