Taxpayers who purchased a new vehicle in 2025 may qualify for a new deduction on their taxes — even if they're not itemizing.

For the last few years, some politicians (and others) want billionaires and corporations to pay their fair share. Sounds reasonable, right? What does that actually mean? First, no corporation really ...

The new federal tax deduction could dramatically reduce your tax bill this year. But it's not exactly tax-free. We break down the critical rules and qualifications.

In a number of states, including Florida, the poorest residents have seen a tax hike as a result of OBBB, the study shows.

Splitero reports homeowners should review tax deductions and credits before filing 2025 returns, including itemizing vs. standard deductions.

At a 12% marginal tax rate, for example, the $6,000 enhanced senior deduction for a single taxpayer who is 65 or older would result in $720 in tax savings. The new enhanced deduction for seniors on ...

The IRS has published filing instructions for taxpayers to claim no tax on tips, overtime, and other deductions. The One, Big, Beautiful Bill Act (OBBBA), includes provisions for no tax on tips and ...

This deduction is only available to those 65 and older with valid Social Security numbers. Married couples must file a joint return to claim the deduction. High earners may be eligible for a reduced ...