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 ...

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 ...

Oklahoma senator pushes back on reversing a new rule that lets the IRS tax phantom income, complicating efforts by House ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, ...

Thanks to changes to the tax laws, 2026 gives taxpayers a chance to take a fresh look at their charitable giving. Whether you’re donating cash, stock or money from your retirement account, a little ...

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 ...

The fund invests in companies that have announced or are expected to undergo material change — catalysts that will impact ...

Many Americans are likely to see massive changes to their taxes in 2026, especially seniors. That’s largely due to President Donald Trump’s so-called big, beautiful bill, a massive 940-page bill ...

Taxpayers can reduce their IRS bill by deducting qualifying expenses from their taxable income. The easiest way to do that is to take the standard deduction, a flat rate offered to nearly all ...

As many Americans head into 2026 with mounting money worries, reviewing your finances now could help put you on firmer footing next year.

If you're concerned about taxes, you probably want to skip that year-end cash donation. Tax laws are changing, and timing is everything this year to maximize your gifts. Itemizers should hit ...

This new deduction is taken on top of your standard deduction or itemized deductions. But your deduction will be reduced if your modified adjusted gross income (MAGI) is more than $75,000 ($150,000 ...