The 2018 Tax Act created a new deduction for qualified business income earned by an individual. The basic deduction is 20% of ...

Should you itemize your taxes? Most taxpayers take the standard each year. The Tax Policy Center estimates that only about 10% of households itemize their taxes. This is in large part because the ...

The SALT deduction, which was temporary under the OBBBA Act, raised it from $10,000 to $40,000 if your income is under $500,000. The new senior deduction is a $6,000 deduction you get just for being ...

Tax season is officially here. And if saving money is your biggest priority this year, there are plenty of tax breaks to take advantage of. Sadly, many of you might be leaving money on the table. From ...

The interest you pay on your mortgage could help you lower your taxes. With the mortgage interest deduction (MID), you can write off a portion of the interest on your home loan, lowering your taxable ...

If you had substantial health care expenditures last year, you may be able to deduct some of them from your taxable income. But many taxpayers miss out on this valuable tax break because they don't ...

Rebecca Rosenberg has 10+ years of experience as a writer and content strategist. She has written dozens of articles on retirement, financial planning, business, tech, and more. Rebecca has a master’s ...

Beverly is a writer, editor, and paralegal specializing in personal finance and tax law. She covers personal financial and legal topics, as well as tax breaks, tax preparation software, and tax law ...

Tax season officially starts on January 26, and this year brings major changes thanks to the One Big Beautiful Bill Act, signed into law in July 2025. These changes affect your 2025 return filed in ...

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