Homeowners now have the chance to write off much more of their state and local tax bills, and this could potentially lead to bigger tax refunds. That’s if they play their cards right on the SALT ...

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American taxpayers aged 65 and older will receive a new $6,000 bonus tax deduction next year as part of President Donald Trump’s One Big Beautiful Bill Act. The temporary deduction comes alongside ...

Christine Benz: Hi, I’m Christine Benz for Morningstar. People who are 65 and older may be able to take advantage of a new senior deduction starting in 2025. Joining me to discuss what you need to ...

A deduction to defray homeowners’ state income taxes and local property taxes is getting much more generous, following fierce debate among lawmakers in Washington. The focus on the write-off is now ...

It’s nearly the end of the year, the traditional time for giving but before opening your wallet, you should know how tax rules are changing so you can maximize your gifts. Itemizers should hit fast ...

Believe it or not, emotional reasoning is neither rare nor uncommon. It is present when we feel jealous and conclude that our partner is cheating on us, with no reason or evidence to back this ...

The IRS on Friday issued proposed regulations (REG-110032-25) on the new deduction for tip income contained in the sweeping tax legislation passed over the summer. The rules contain details on ...

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 ...

CORRECTION: A previous version of this story incorrectly stated the amount of the new deduction. We regret the error. New Jerseyans have been screaming about it for ...