The IRS has announced the annual inflation adjustments for the year 2025, including tax rate schedules, tax tables and ...

The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how ...

Learn who qualifies for home office tax deductions, how to calculate them, and other business write-offs like car mileage and supplies.

For tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their federal return.

Tax deductions are expenses that can be subtracted from an individual's taxable income, effectively reducing the amount of income subject to taxation. Tax deductions can help individuals lower their ...

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

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 ...