Income tax planning in India is not limited to your own income and investments. The Income Tax Act also allows taxpayers to ...

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American taxpayers aged 65 and older will receive a new $6,000 bonus tax deduction next year as part of President Donald Trump’s One Big Beautiful Bill Act. The temporary deduction comes alongside ...

Christine Benz: Hi, I’m Christine Benz for Morningstar. People who are 65 and older may be able to take advantage of a new senior deduction starting in 2025. Joining me to discuss what you need to ...

Under the Income-tax Act, hospitals and medical institutions are mandated to issue certificates to support taxpayers claiming deductions, exemptions, or justifying high-value transactions. These ...

You might be able to deduct mortgage interest on your taxes if you itemize and follow a few other guidelines. Many, or all, of the products featured on this page are from our advertising partners who ...

Homeowners now have the chance to write off much more of their state and local tax bills, and this could potentially lead to bigger tax refunds. That’s if they play their cards right on the SALT ...

The SALT deduction is only available to taxpayers who itemize their deductions rather than claiming the widely used standard deduction The decision on whether to take the standard deduction or itemize ...

A deduction to defray homeowners’ state income taxes and local property taxes is getting much more generous, following fierce debate among lawmakers in Washington. The focus on the write-off is now ...

It’s nearly the end of the year, the traditional time for giving but before opening your wallet, you should know how tax rules are changing so you can maximize your gifts. Itemizers should hit fast ...

The Internal Revenue Service (IRS) has announced inflation adjustments to several 2026 tax credits and deduction amounts. These include higher standard deduction amounts, new income tax bracket ...

The IRS on Friday issued proposed regulations (REG-110032-25) on the new deduction for tip income contained in the sweeping tax legislation passed over the summer. The rules contain details on ...