Slash your 2025 tax bill with smart gig worker moves. Learn some key deductions, timing tricks and essential year‑end steps to keep more of your earnings.

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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 standard deduction has been super-sized for seniors. Starting with 2025 federal returns (filed in 2026), taxpayers 65 and older can claim an additional $6,000 without itemizing, thanks to tax ...

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 ...

Changes in the tax law will have different effects on people who take the standard deduction versus high earners who itemize. By Ann Carrns Thinking about donating to your favorite charity before the ...

Preparing a 2025 tax return is likely to take more time, as workers who received tips or overtime pay in 2025 figure out what qualifies for new tax breaks. IRS gives some very specific examples in ...

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 ...

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 ...

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 ...

Under Sec. 213(a), taxpayers may deduct expenses paid during the tax year for medical care, provided these expenses are not compensated by insurance or otherwise. The deduction is available for ...