A new tax deduction for many adults 65 and older has plenty of rules and requires new paperwork. What you need to know when ...

How recent Federal tax law changes are reshaping charitable giving strategies—and what you should do before year-end ...

Each spring, millions of taxpayers face a deceptively simple question — take the standard deduction or itemize? For those not versed in the lingo of taxes, the distinction can be confusing. But ...

Taking deductions when filing your taxes can reduce the amount you owe. But there are two different ways to claim deductions, and the one you choose can impact how much you save. The far more common ...

See how the SALT deduction can cut your tax bill. Learn which state and local taxes you can deduct, how the SALT cap applies, ...

President Donald Trump’s One Big Beautiful Bill Act, which was recently signed into law, offers Americans a number of tax benefits. It makes many of the changes from the Tax Cuts and Jobs Act (TCJA) ...

Understanding whether there is a limit on itemized deductions can significantly impact financial planning and tax liabilities. TRAVERSE CITY, MI, UNITED STATES ...

Filing taxes can feel overwhelming, but one of the most important decisions you’ll make is also one of the simplest: whether to take the standard deduction. For single filers, this deduction offers a ...

Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.

Forbes contributors publish independent expert analyses and insights. Kristin McKenna, President, Darrow Wealth Management in Boston, MA The first quarter of a new year typically means focusing on tax ...

Here's a list of federal tax deductions and credits that you can't claim in the 2026 tax year. High-income earners could also get hit by a "surprise" tax bill.