Tax deductions can lower the amount of income that is subject to tax. Here's more on how tax deductions work, plus 25 tax breaks that might come in handy.

Charitable tax deductions are about to see the biggest changes in nearly a decade in 2026 thanks to President Donald Trump ’s ...

The rule has limitations, and the IRS has yet to provide clear guidance on how companies should report qualified overtime ...

Standard tax deductions are increasing across the board, but the news is even better for those 65 years and older.

Section 179 lets you deduct the full purchase price of qualifying business equipment bought and put into use during the year.

Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to ...

The clock is ticking on year-end tax planning. Here are some steps to take now to lower your tax bill before filing next ...

Idaho residents 65 and older could see an average of $6,000 more in their tax deductions this year under a new federal ...

Both the tax brackets and the standard deduction for the 2026 tax year, which is filed in 2027, have increased to reflect ...

An increase in the deduction limit sounds like great news for high earners — but take cover, because a high-speed tax penalty is headed your way.

Adjustments to the extra standard deduction can impact the tax bills of millions of older adults. Here are some new amounts ...

The IRS on Thursday announced adjustments to the federal income tax brackets and standard deductions for 2026.