You can only claim the new senior tax deduction if you were 65 or older at the end of 2025. You must also provide your Social Security number on your tax return and have a modified adjusted gross ...
Exemptions, deductions and rebates may sound similar, but they work at different stages of tax calculation and directly influence how much tax a taxpayer finally pays ...
The SALT cap increases to $40,000 for 2025 — up from $10,000 in 2024. The maximum deduction phases down at higher income ...
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6 federal income tax breaks you can kiss goodbye in 2026
These deductions, exemptions and exclusions will not be available in 2026 — or ever again.
The Internal Revenue Service anticipates receiving some 164 million individual income tax returns as Americans digest the ...
Business taxpayers are often entitled to extra self-employed and small business tax deductions, which can potentially lead to substantial savings this tax year.
The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily received with ineligible specified service trades or businesses.
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