H.R. 1, P.L. 119-21, the law commonly known as the One Big Beautiful Bill Act (OBBBA), contains provisions of special ...

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

The government is adding a new deduction for non-itemizers. Starting in 2026, they will be able to deduct up to US$1,000 of ...

About 144 million Americans may qualify for the 2026 universal charity deduction, while high earners face new IRS limits.

The new year has just begun and income tax deadlines are months away, but there's one thing to start considering now. Many ...

This article is the first in a new column, Personal Financial Planning, covering the role of CPAs in advising individuals and ...

Gambling losses have been tax-deductible in the past, but this time around, gamblers will be limited to receiving a 90 ...

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

Millions of Americans may pay less tax in 2025 as the IRS explains how workers can claim new deductions on tips and overtime ...

Arizona Gov. Katie Hobbs told the state Department of Revenue to publish the new tax forms with the tax break she says she ...

A helpful wrinkle in Donald Trump's One Big Beautiful Bill Act is setting up what economists expect will be a record tax ...

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. Investopedia / Photo Composite by ...