For tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their federal return.

A new tax deduction for seniors could cut your bill or boost your refund by hundreds of dollars. Here’s who qualifies and how to claim it.

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 ...

Every year, as you file your federal income tax return, you have an important decision to make: itemize, or take the standard deduction. You can only pick one, but at least you can select the option ...

One of the biggest decisions people make at tax time is whether to itemize or take the standard deduction. Most people take the standard deduction, according to IRS data, but tax pros warn that if you ...

Turning 65 doesn’t just mark a milestone in life, it can also unlock valuable tax savings. The IRS grants seniors an extra standard deduction. This deduction can lower taxable income by thousands of ...

Benjamin Franklin famously quipped that there’s nothing certain in life other than death and taxes. Any changes to the latter pique the interest of most Americans. As it does annually, the IRS ...

A new tax break on overtime pay will save money for many workers. But the savings are less than you'd expect based on what doesn't qualify.