The budget bill passed by the House includes a provision to quadruple the state and local tax deduction, a boon for some ...

If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out ...

Modified adjusted gross income, or MAGI, is a crucial tax term to know if you want to qualify for valuable tax benefits.

which you can calculate using the IRS’ sales tax worksheet or sales tax deduction calculator. State and local income taxes generally include: State and local income taxes withheld from your wages.

President Trump’s new tax plan promises a $4,000 break for seniors — but experts say it would really save most people about ...

If passed by the Senate, the new expanded SALT cap would benefit millions of big earners in high-tax states, including New ...

The unexpected voice vote comes as congressional Republicans work to pass legislation that would include a similar provision.

For 2023 tax returns (those filed in 2024), the ... Taxpayers age 65 or older or blind can claim larger standard deductions. A worksheet in the IRS Instructions for Form 1040 can help you ...

The proposed fiscal package by former President Trump offers a significant tax relief for seniors, with an additional ...

In tax year 2025, those limits rise to $4,300 ... The Self-Employed Health Insurance Deduction Worksheet on page 90 of the ...

you can use the student loan interest deduction worksheet included in the IRS instructions for Form 1040. If you use some of today’s best tax software to complete your return, the software will ...