The $40,000 cap would begin in 2025, with the same $500,000 income phaseout, and both figures would rise by 1% annually from ...

President Donald Trump has pitched no taxes on Social Security benefits. Republicans’ “big beautiful” bill includes a ...

The deadline for submitting ITR for FY 2024-25 is September 15, 2025 and this means eligible taxpayers should claim eligible ...

For the 2024 tax year, the standard deduction ranges from $14,600 to $29,200, depending on your filing status. Deduct your property taxes in the year you pay them.

Tax deductions are subtracted from your taxable income, thereby lowering the amount of tax you owe. You can choose the standard deduction or itemize your deductions on Schedule A of Form 1040 or ...

Senate plan includes a permanent $2,000 charitable tax deduction for joint filers in the “One Big Beautiful Bill” proposal.

Millions of taxpayers may soon benefit from a new tax deduction worth up to $2,000 for qualified charitable contributions.

The Senate GOP’s sweeping tax bill would keep a popular property tax deduction limited to $10,000, drawing the ire of ...

The ‘SALT’ deduction is still in limbo as Senate Republicans unveil key tax details of President Donald Trump’s spending package. Here’s what to know.

U.S. Rep. Young Kim, R-Anaheim, helped lead the fight to increase the federal deduction for state and local income taxes. A Senate plan to keep the cap at $10,000 has drawn opposition from ...

The Senate draft also enhances Trump's proposed new tax break for seniors, with a bigger $6,000 deduction for low- to moderate-income senior households earning no more than $75,000 a year for ...