In this episode of Tax Notes Talk, Damien Martin and Tony Nitti of EY discuss the second three of their top six tax cases of 2025, focusing on what qualifies as a deduction in Savage v. Commissioner, ...

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

A corporation’s annual charitable contribution deduction cannot exceed 10% of the corporation’s taxable income Sec. 170 (b) (2) (A)), computed without regard to the following (Sec. 170 (b) (2) (D)): ...

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.

The One Big Beautiful Bill (OBBB) Act that President Trump signed into law last July implemented multiple changes to the tax code, including for seniors. One notable change is a new $6,000 deduction ...

Find out if your new car or truck was built in the United States. See the window sticker or use a VIN Decoder tool at the National Highway Traffic Safety Administration website. Beginning on 2025 tax ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Johner Images/Getty Images A new ...

Editor's note: This is the second installment of New Year, New You, a weeklong look at your financial health headed into 2026. Military pay deductions are an important part of your total pay situation ...

Clients will need more help than usual this tax season, as last summer’s H.R. 1, P.L. 119-21, known as the One Big Beautiful Bill Act, made federal taxes more complicated for many individuals. The law ...

A satirical social media post falsely claimed President Donald Trump signed a "Home Gym Deduction Act." Americans could see larger tax refunds in 2026, but it won't be due to home gym equipment. A Dec ...

A new federal tax bill could provide New Jersey residents with an average of $3,700 in tax savings in 2026. The bill raises the cap on state and local property tax (SALT) deductions from $10,000 to ...