Older taxpayers now have access to some of the most generous standard deduction rules on record, and the stakes are high for ...

The IRS announced updated inflation adjustments for the 2026 tax year, including new federal tax brackets and higher standard ...

For tax year 2026, the standard deduction will be $32,200 for married couples filing jointly. For single taxpayers and married individuals filing separately, the standard deduction rises to $16,100 ...

Taken together with the inflation measure the IRS uses, the agency says that—on average—the inflation-adjusted tax numbers ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Lea Uradu, J.D., is a Maryland state ...

To continue reading this content, please enable JavaScript in your browser settings and refresh this page. Greater Cincinnati Foundation (GCF), the region’s leading ...

Senior discounts are commonplace in restaurants, but there's one for taxes too. It's called the extra standard deduction, exclusively for people who are 65 years and older by the end of the tax year.

Question: Is it worth going through the effort of adding up all my out-of-pocket medical expenses, charitable contributions and other items or should I just take the standard deduction for 2024?

Unlock overlooked tax deductions -- from medical costs to home office write‑offs -- to lower your taxable income and keep ...

Each year when it’s time to file your federal income tax return, you must make an important decision: Claim the standard deduction or itemize. You can’t do both—you have to pick just one. Fortunately, ...