Year-end planning can significantly boost the benefits of new tax changes, helping taxpayers reduce liabilities and maximize deductions.

Starting in 2025, the cap for deducting these taxes has been raised from $10,000 to $40,000. The caps are expected to be raised 1% every year through 2029, before reverting back to $10,000 in 2030.

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

It could be worth the time this holiday to consider these tax moves before year end. They could save you money in 2025 and beyond.

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

The Internal Revenue Service has announced updated standard deduction amounts for the 2026 tax year, including a modest, yet meaningful, increase for Americans age 65 and older. The change, which ...

The Internal Revenue Service has announced new tax inflation rates, standard deductions and new federal income tax brackets for 2026 — and the adjustments may surprise you. While the tax rate ...

You might find that your most fruitful tax breaks aren’t hiding in itemized deductions — but they might be waiting for you after age 65. Data from the IRS shows that 90% of taxpayers choose the ...

The IRS has released the new income limits for federal income tax brackets for the tax year 2026. The brackets you fall into determine how much you owe at tax time. For 2025 returns, which will be ...

For taxpayers living in high-tax states, the $10,000 SALT (state and local tax) deduction cap has been a thorn in the side since 2018. The One Big Beautiful Bill Act (OBBBA) offers long-awaited relief ...

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...