A new federal tax deduction will allow eligible taxpayers to deduct interest paid on new car loans beginning this tax year. Lawmakers say the measu ...

Workers who claim the new deduction will see an average tax cut of around $1,400, although some could realize larger savings.

A new tax deduction for people over age 65 has some thinking about Medicare premiums and MAGI strategy.

Now that the 2025 federal tax bill has been signed into law, it’s appropriate to revisit one of its most news-making elements: the federal deduction for state and local taxes (SALT). The new SALT ...

Tax deductions reduce your taxable income, potentially lowering what you owe. Itemizing deductions can outweigh the standard deduction if summed deductions exceed it. Tax credits directly decrease ...

President Donald Trump signed his "one big beautiful" tax-and-spending package on July 4 — legislation that will bring sweeping changes to Americans' finances. After the Senate passed its version on ...

The standard deduction is rising in 2026 by $350, or $700 for couples. The tax brackets are changing slightly as well. Assuming the same income, your tax bill could go down slightly for 2026. The ...

Tax season feels different when you’re retired. You’re not chasing W-2s from multiple employers or worrying about 401(k) plan contribution limits anymore. But that doesn’t mean you’re done looking for ...

A bigger standard deduction, changes in the itemizing rules and new temporary deductions all complicate the decision. Here’s how to choose the option that’s best for you. When it comes to federal ...