The standard deduction is set to climb again for the 2025 tax year, with married couples filing jointly able to shield ...

KEY TAKEAWAYS Taxpayers can pre-pay estate taxes and pay quarterly state and local taxes before the end of the year, allowing them to take advantage of the new SALT cap.Taxpayers who do not itemize ...

Starting in 2026, the new deduction will enable the estimated 90% of household using standard deductions to get a deduction ...

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on the 20% deduction for qualified business income or QBI.

With the passing of the One Big Beautiful Bill Act, new changes to your charitable contribution deductions could be significant depending on whether you give in 2025 vs 2026.

President Trump discussed his "no tax on tips" plan in January. The IRS has released its guidance for the "no tax on tips" ...

(a), taxpayers may deduct expenses paid during the tax year for medical care, provided these expenses are not compensated by ...

Still, residents who qualified for those tax breaks would lose out. A qualifying senior who can't claim the extra $6,000 deduction on a tax return would lose $360 to $390, estimated Richard Pon, a San ...

Advances made by a taxpayer in its business of managing an arena were not bona fide debt, and the taxpayer was not entitled ...

The clock is ticking for philanthropic clients who want to maximize tax deductions on their charitable donations. New rules in the One Big Beautiful Bill Act (OBBBA) will fundamentally alter ...