A recently proposed tax law includes a 'bonus' deduction of up to $6,000 for taxpayers 65 and older. Learn how it works, who ...

Wondering how the new mega tax law will affect your paycheck and taxes? Some of the answers lie in the new W-2 form employees will start getting for tax year 2026. The new forms show how new laws, ...

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) ...

Wondering how the new mega tax law will affect your paycheck and taxes? Some of the answers lie in the new W-2 form employees will start getting for tax year 2026. The IRS recently released drafts of ...

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

Since the 2017 tax reform, fewer donors are able to claim deductions for their gifts. But with the right strategies, you may be able to turn your generosity into tax savings this year—before new ...

QBI includes the income, minus wage income, deductions, applicable gains and losses, for every eligible pass-through business that a taxpayer operates in the United States or Puerto Rico. This income ...

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. Vithun Khamsong / Getty Images The ...

Everyone wants to save on taxes, and one of the best ways is to maximize every possible deduction. The mortgage interest deduction used to be a mainstay for consumers, but the past few years have ...

The interest you pay on your mortgage could help you lower your taxes. With the mortgage interest deduction (MID), you can write off a portion of the interest on your home loan, lowering your taxable ...

In some cases, home improvements can result in tax deductions. But, before tearing down the walls in your house and expecting huge tax write-off results, there are several important factors to ...

The "One Big, Beautiful Bill" adds some tax deductions and increases others for the 2025 tax year, which will mean lower tax bills for many Americans. Taxpayers who prefer to pay less in taxes ...