For tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their federal return.

You can only claim the new senior tax deduction if you were 65 or older at the end of 2025. You must also provide your Social ...

The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how to choose the option that’s best for you.

One of the biggest tax decisions that a couple can make is whether to take the standard deduction or itemize. The standard deduction offers a straightforward way to reduce your taxable income. In 2025 ...

Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced deduction for seniors.

One of the biggest decisions people make at tax time is whether to itemize or take the standard deduction. Most people take the standard deduction, according to IRS data, but tax pros warn that if you ...

You’ll find new deductions and new forms when you file taxes this year, thanks to the One Big Beautiful Bill Act.

Benjamin Franklin famously quipped that there’s nothing certain in life other than death and taxes. Any changes to the latter pique the interest of most Americans. As it does annually, the IRS ...

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions ...

When tax season rolls around, deductions and credits can make a real difference in how much you owe — or how much you get back. Deductions lower the portion of your income that’s taxed, while credits ...