Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Lea Uradu, J.D., is a Maryland state ...

Itemizing is a way to pick and choose your tax deductions. Here's how it works and how to tell if it's for you. Many, or all, of the products featured on this page are from our advertising partners ...

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

While the "One Big Beautiful Bill" signed into law by President Trump on July 4 didn't eliminate taxes on Social Security benefits (a promise Trump made on the campaign trail), it did provide a ...

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 ...