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

President Donald Trump’s “One Big Beautiful Bill” quadruples the state and local tax (SALT) deduction cap to $40,000. Sounds ...

President Trump's One Big Beautiful Bill introduces a $6,000 tax deduction for seniors, aiming to ease their financial burden ...

The tax break for tipped workers, worth up to $25K in 2025, sounds straightforward but doesn't apply to all tips or all jobs and occupations.

The day you’ve been dreading is approaching: Tax Day. To prepare for that ominous deadline — or see what you can do better next year — start organizing your finances and look for every single tax ...

Elizabeth Guevara is a journalist working to explain the world of business and economics and how it impacts your finances. She joined Investopedia in 2024 as a breaking news writer covering personal ...

Taxpayers can soon take advantage of a new federal tax credit of up to $1,700 for donations to scholarship-granting organizations (SGOs) — nonprofit groups that use contributions to fund scholarships ...

No tax on overtime' is a new break that begins in 2025, but a surprising twist will have many paying more taxes than they imagined with a deduction.