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 ...

The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how to choose the option that’s best for you.

A new deduction will allow taxpayers to deduct the interest they paid on a car loan in 2025. But the car loan must be for a ...

The enhanced deduction for seniors applies on 2025 tax returns to adults born before Jan. 2, 1961.

If you purchased a new car after Dec. 31, 2024, you can now deduct the interest you paid on the auto loan when you file your ...

OBBBA has introduced a ‘Seniors Deduction’ for retirees over 65, of up to $6,000 for individuals ($12,000 for couples), in 2026 tax filings.

A new deduction will lower the tax bill for many older Americans this year. Taxpayers, however, need to ensure they qualify ...

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions ...

Naturally, to obtain the deduction, filers must be at least 65 years old — the widely accepted age of when an American is considered a senior — prior to the end of 2025. If the modified adjusted gross ...

President Donald Trump's "big beautiful bill" increased the SALT deduction limit to $40,000 for 2025. Here's how that could affect your tax return this season.

The charitable donation tax deduction lets you write off qualified gifts to nonprofit organizations, but there are rules to ...

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