The Senior Deduction can be as high as $6,000 ($12,000 for married couples filing jointly)—but you won't be able to deduct ...

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

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

Starting and running a small business is expensive. There are many different costs that go into operating a business, but many can be tax write-offs. For an expense to be deductible, the cost must be ...

Although paying taxes is a fact of life, the IRS offers taxpayers the ability to reduce what they owe via various tax deductions and tax credits. But it’s not as simple as it sounds. Before you can ...

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 ...

Under the One, Big, Beautiful Bill, workers may be eligible for new deductions for tax years 2025 through 2028 if they received qualified tips. For tipped workers, the maximum annual deduction is ...

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