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 ...

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily ...

Many tax deductions, such as charitable donations and business supplies, are well known, but some are more obscure. With tax season upon us, here's a look at how tax deductions work and three ...

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions ...

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

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

If you have a side hustle — or are full-time in business for yourself — you might qualify for self-employment tax deductions. These deductions can lower how much of your income is considered during ...

Let’s face it — tax season can be stressful. This is especially true for self-employed individuals and small business owners searching out every self-employed tax deduction and navigating other small ...

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 ...

Exemptions, deductions and rebates may sound similar, but they work at different stages of tax calculation and directly ...

Drivers are looking at a long list of rules if they're hoping to claim a new tax deduction for car loan interest on 2025 federal income tax returns.