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

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

It’s a decision that every taxpayer is faced with when choosing how to claim deductions on their federal tax return: Do you take the standard or do you itemize? Making the right choice could mean more ...

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

When tax season rolls around, deductions and credits can make a real difference in how much you owe — or how much you get back. Deductions lower the portion of your income that’s taxed, while credits ...

Taxpayers who want to claim some attractive new income tax deductions that were packed into the One Big Beautiful Bill Act will need to keep their records — and get ready to file yet another form to ...

A new deduction will allow taxpayers to deduct the interest they paid on a car loan in 2025. But the car loan must be for a new vehicle assembled in the United States.

A practical walkthrough of individual tax-planning essentials ...

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