For 2025, married couples over 65 filing jointly will also see a modest benefit. The extra deduction per qualifying spouse ...

The qualified business income deduction, also known as QBI, is one of the most powerful deductions still on the books for ...

Selling your home could bring you extra cash at tax time. Discover potential deductions homeowners can claim after closing to ...

Tax deductions reduce your total taxable income, also called your adjusted gross income. The Internal Revenue Service offers both personal and business deductions, but business deductions must be ...

Tax deductions reduce your taxable income, but tax credits reduce your bill dollar for dollar. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

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, ...

Under the One, Big, Beautiful Bill, workers may be eligible for new deductions for tax years 2025 through 2028 if they ...

Many people will be shocked when they discover the intricate rules — and lack of supporting paperwork — when filing 2025 ...

The One Big Beautiful Bill Act ("OBBBA") brings major changes to federal charitable deduction rules beginning January 1, 2026. These changes ...

There is an above-the-line deduction available for many individual taxpayers for qualified tuition and related expenses. The deductible expenses are defined in the same manner as they are for the ...

The grain glitch was an unintended consequence of Section 199A, the provision that created the 20 percent tax deduction on income derived from pass-through businesses designed to replicate the tax ...

The Tax Cuts and Jobs Act -- signed into law on December 22, 2017 — gave birth to a brand new provision: Section 199A, which permits owners of sole proprietorships, S corporations, or partnerships to ...