If you’re an older adult, a new bonus tax deduction could provide a valuable tax benefit. Here's how it works.

The IRS has issued proposed regulations for the temporary car loan interest deduction enacted under the new tax law.

About 144 million Americans may qualify for the 2026 universal charity deduction, while high earners face new IRS limits.

Social Security represents a major source of monthly income for many citizens, especially retirees. The "new" deduction will ...

An above-the-line deduction for charitable giving is in available for non-itemizers in the 2026 tax year and beyond.

New tax changes from OBBBA in 2026 could significantly impact charitable deductions by altering how donors give.

Tax deductions reduce your taxable income, but tax credits reduce your bill dollar for dollar. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

The tax-and-spending bill includes several provisions that could have significant effects on your tax refunds come April – ...

The law creates a new deduction of up to $6,000 for people age 65 and older until 2029, and creates a tax break for up to $10 ...

Kristina Byas is contributor at Investopedia. As a personal finance expert, she has lent her insights and knowledge to numerous financial publications. Her articles have helped readers navigate the ...

Tax filers who choose the SALT deduction must forgo the standard deduction — which the new law raises by $750 for tax-year ...