One of the biggest tax decisions that a couple can make is whether to take the standard deduction or itemize. The standard ...

Turning 65 doesn't just mark a milestone in life, it can also unlock valuable tax savings. The IRS grants seniors an extra ...

Tax credits are generally more valuable than tax deductions. There are many types of each: nonrefundable, partially refundable and fully refundable tax credits, and standard vs. itemized deductions, ...

Many tax deductions such as charitable donations and business supplies are well known, but some are more obscure. With tax season upon us, here’s a look at how tax deductions work and three deductions ...

Tax advisors say wealthy Americans should consider ramping up charitable donations before the end of 2025 to take advantage ...

The rule has limitations, and the IRS has yet to provide clear guidance on how companies should report qualified overtime ...

Tax season is approaching. Tax breaks that were extended as part of President Trump's "One Big Beautiful Bill" will mainly ...

President Trump promised to eliminate Social Security taxes for senior years, along with tipped wages and overtime. Some of ...

Proactively reviewing your health coverage, RMDs, and IRAs can lower retirement taxes in 2025 and 2026. Here’s how.

Recent tax changes, including an extra $6,000 deduction for those 65 and older, present a golden opportunity for retirees to ...

Two types of tax breaks stand out among all the lingo: credits and deductions. Each lowers your tax liability, which is the total annual tax owed on your income. (That figure can be found on line 24 ...