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

Social Security represents a major source of monthly income for many citizens, especially retirees. The "new" deduction will ...

Form 4684 allows individuals, businesses and estates to claim deductions against any unexpected losses due to theft or disasters. These deductions can help reduce taxable income, but they come with ...

New tax changes from OBBBA in 2026 could significantly impact charitable deductions by altering how donors give.

(The Center Square) – Millions of Americans who work overtime shifts or receive tips will be eligible to claim new deductions on their 2025 tax returns, the Trump administration announced Friday.

Giving to a good cause feels great — and if you itemize your taxes, it can also help lower your tax bill. The charitable donation tax deduction lets you write off qualified gifts to nonprofit ...

Most Americans may be better off waiting until 2026 to donate cash to their favoriite charities due to tax law changes.

These seven common deductions draw IRS scrutiny — not because they're suspicious, but because most people document them wrong. Here's how to get it right.