If you’re an older adult, a new bonus tax deduction could provide a valuable tax benefit. Here's how it works.

Here's what you can deduct if you aren't itemizing, along with tax brackets, senior deductions including the phaseout ramp, ...

The IRS announced updated inflation adjustments for the 2026 tax year, including new federal tax brackets and higher standard ...

The IRS has issued proposed regulations for the temporary car loan interest deduction enacted under the new tax law.

The Internal Revenue Service released new rules this week for a tax break that lets you deduct up to $10,000 in car loan ...

With student loan interest payments resuming in late 2023, many borrowers are eligible to claim this deduction for their 2024 tax filings. The benefit, which has existed since 1997, can help reduce ...

The Child Tax Credit and the Additional Child Tax Credit can be a helpful moneysaver for parents and guardians.

Taxpayers could be stretched to new limits in 2026 as complicated new tax breaks kick into place on 2025 federal income tax returns.

The type of deduction you take can reduce your tax bill, or even determine how much you get back in refunds this tax season. But what is the difference between standard and itemized deductions? Is one ...

With the April 15 tax filing deadline right around the corner, millions of Americans are finalizing their 2024 tax returns with one goal: reducing what they owe. Proper planning can save you thousands ...

While some overlap with those available to regular workers, self-employed individuals also have their own unique deductions. It’s important to note that the IRS definition of “self-employment” is ...

Only deductible W-2 wages are included in calculating a taxpayer’s Sec. 199A qualified business income deduction.