The $40,000 cap would begin this year, with the same $500,000 income phaseout, and both figures would rise by 1% annually ...

Starting your working career with a steady salary is an exciting milestone – both for you and the Tax Man. As the South ...

Even while most focus only on standard deductions, there are several hidden credits and deductions that can significantly ...

This information is also accessible anytime via your MyMedicare account. Use your SSA-1099 and MSN to determine total medical expenses for your tax itemized deduction, referred to as Schedule A.

Only those earning $500,000 or less could take advantage of the full $40,000 cap, under the bill the Senate passed.

Understanding Section 80D is crucial if you wish to balance tax-saving with smart protection. With escalating medical bills, ...

Another way to reduce your taxable income is by contributing to a traditional IRA. The maximum contribution is $7,000 in 2025 ...

How some older adults could see federal income tax savings of $480 or more from a new senior "bonus" tax deduction, if it's ...

Your tax filing could look dramatically different after 2025 if new legislation passes. The bill would maintain lower tax rates but permanently eliminate personal exemptions and restrict mortgage ...

The Senate advanced Trump’s priorities, which Republicans have been calling the One Big Beautiful Bill. Here’s how it could ...

The Senate passed its version of the One Big Beautiful Bill Act. The bill contains many tax provisions beyond extending ...