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

With just hours left in 2025, some quick steps could help taxpayers keep more money in their pockets. Sikich tax expert Bryan Lake said charitable giving is one option to consider before the year ends ...

Forbes contributors publish independent expert analyses and insights. Nathan Goldman is a tax prof. at NC State Univ. The season of giving is upon us. While many use December as an opportunity to ...

Q. Hi, Dan. I don’t understand why people are talking about the new deduction for charitable gifts next year. Haven’t charitable gifts always been deductible? — Carl in Rockledge A. Carl, for millions ...

Each spring, millions of taxpayers face a deceptively simple question — take the standard deduction or itemize? For those not versed in the lingo of taxes, the distinction can be confusing. But ...

As teachers spend more of their own money on classroom supplies, the One Big Beautiful Bill Act is removing the limits on itemized tax deductions for K-12 educators. Processing Content But that new ...

Some new rules concerning the deductibility of charitable contributions were enacted as part of H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act. The changes introduce incentives ...

It’s nearly the end of the year, the traditional time for giving but before opening your wallet, you should know how tax rules are changing so you can maximize your gifts. Itemizers should hit fast ...

COLUMBUS, Ohio (WCMH) — A bipartisan Ohio bill would allow residents to deduct donation to churches from their taxable income, a move proponents said would encourage charitable giving. House Bill 444, ...