Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?

Tax season began Monday. Over the next three months, tens of millions of Americans will be filing returns for the 2025 tax year. Subscribe to read this story ad-free Get unlimited access to ad-free ...

President Donald Trump's "big beautiful bill" boosted the SALT deduction limit to $40,000 for 2025, up from the previous $10,000 cap. The SALT deduction includes property taxes plus either state and ...

(NEW YORK) -- Tax season kicked off this week as the U.S. Internal Revenue Service began allowing filers to submit completed tax forms. Americans can file anytime before April 15. The IRS said earlier ...

A bigger standard deduction, changes in the itemizing rules and new temporary deductions all complicate the decision. Here’s how to choose the option that’s best for you. When it comes to federal ...

NEW YORK — New York taxpayers will see several changes when they file their 2025 federal income tax returns, including a slew of new deductions that could increase the size of their refunds. Tax ...

Forbes contributors publish independent expert analyses and insights. Matthew F. Erskine is a trusts and estates attorney. When President Trump signed the One Big, Beautiful Bill Act (OBBBA) into law ...

For years, Americans have asked a simple question: Why does Washington take so much and give back so little? This year, President Trump is shifting that balance. The One Big Beautiful Bill Act, now ...