Income tax planning in India is not limited to your own income and investments. The Income Tax Act also allows taxpayers to reduce their tax burden by claiming deductions on expenses and investments ...

Lowering your tax burden is one of the smartest money moves you can make, and knowing how to do so is crucial to financial success, whether it's tax season or not. The good news is that there are lots ...

Many Americans can take advantage of President Trump’s deduction on auto loan interest, but the tax break will provide only modest savings. By Adam Sella Reporting from Washington As President Trump ...

Homeowners now have the chance to write off much more of their state and local tax bills, and this could potentially lead to bigger tax refunds. That’s if they play their cards right on the SALT ...

Seniors relying on Social Security may have a new tax deduction in 2026. President Donald Trump’s One Big Beautiful Bill created a $6,000 deduction for seniors on top of the current standard deduction ...

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. Investopedia / Photo Composite by ...

American taxpayers aged 65 and older will receive a new $6,000 bonus tax deduction next year as part of President Donald Trump’s One Big Beautiful Bill Act. The temporary deduction comes alongside ...

Christine Benz: Hi, I’m Christine Benz for Morningstar. People who are 65 and older may be able to take advantage of a new senior deduction starting in 2025. Joining me to discuss what you need to ...

Just in time for Giving Tuesday, there's some good news for charities. The tax deduction for charitable giving is undergoing some changes next year thanks to the One Big Beautiful Bill Act, with a new ...

The Internal Revenue Service signaled that it is relaxing enforcement of the new “no tax on tips” law, allowing more workers to potentially take advantage of the break. The agency said Friday it is ...