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

A new tax law effective in 2026 limits gambling loss deductions to 90% of winnings. Learn how this creates "phantom income" ...

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

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

The IRS has issued proposed regulations for the temporary car loan interest deduction enacted under the new tax law.

Americans who are 65 and older got a hefty new tax break under the massive tax bill that President Donald Trump signed into law on July 4: A new bonus deduction that’s worth as much as $6,000 per ...

Under the One, Big, Beautiful Bill, workers may be eligible for new deductions for tax years 2025 through 2028 if they ...

The tax-and-spending bill includes several provisions that could have significant effects on your tax refunds come April – ...

Discover what medical expenses are deductible, including examples like insurance premiums and prescriptions, and learn how they can reduce your taxable income.

Understanding your 1040 is the best way to legally minimize your taxes. Top tax professionals will tell you that effective tax planning needs to be proactive, not reactive. The best tax planning needs ...

Starting and running a small business is expensive. There are many different costs that go into operating a business, but many can be tax write-offs. For an expense to be deductible, the cost must be ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor of Science in ...