OBBBA has introduced a ‘Seniors Deduction’ for retirees over 65, of up to $6,000 for individuals ($12,000 for couples), in 2026 tax filings.
Taxpayers should prepare for major tax-policy shifts this year. Forbes’ expert contributors explain how — and when — key rule ...
Young and the Invested on MSN
New standard deduction for 2026: How much will your taxable income be lowered? (Young and the Invested)
Every year, as you file your federal income tax return, you have an important decision to make: itemize, or take the standard ...
The IRS has unveiled the updated tax brackets and standard deductions for the 2025 tax year, reflecting adjustments for inflation.
The 2026 tax season begins January 26. New laws change how much you owe. A family earning $73,000 can now pay $0 in federal ...
The standard deduction and SALT cap are both higher and there are new perks for seniors, those who financed new cars and ...
The new tax bill also temporarily raises the cap on the state and local tax (SALT) deduction to $40,000, up from $10,000. The ...
The SALT cap increases to $40,000 for 2025 — up from $10,000 in 2024. The maximum deduction phases down at higher income ...
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