Some deductions remain every year, but others change or disappear and new ones crop up. Learn about the best tax deductions ...

Make sure you claim all the expenses you can when you prepare your 2025 income taxes. We’re here to help you minimize your ...

The IRS won’t require employers to separately report tips and overtime in 2025, which may be confusing for employees. New IRS guidance can help taxpayers figure the deductions. The IRS has released ...

A new, temporary 'senior bonus' will enable many taxpayers age 65 and older to deduct up to $6,000 in income from their ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Composite by ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Illustration ...

Since the 2017 tax reform, fewer donors are able to claim deductions for their gifts. But with the right strategies, you may be able to turn your generosity into tax savings this year—before new ...

If you regularly make donations to tax-exempt charities and non-profits, you should be aware of upcoming rule changes governing how much of your contributions will be deductible.Some of the changes, ...