Standard deduction 2025 and 2026: Amounts, exceptions, and who should itemize

Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?

New Tax Rules And Strategies To Consider In 2026

The One Big Beautiful Bill included sweeping tax law changes. Here are several key changes individual taxpayers need to know ...
Wall Street Journal

What Is the Standard Deduction?

It might be challenging to think of the Internal Revenue Service as offering taxpayers choices. After all, income taxes aren’t optional. However, the IRS empowers you with one clear choice every time ...
Forbes

A First Look At The New Tax Form For Claiming Deductions For Tips, Overtime, Car Interest And Seniors

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...
Accounting Today

The deduction for qualified tuition and related expenses

There is an above-the-line deduction available for many individual taxpayers for qualified tuition and related expenses. The deductible expenses are defined in the same manner as they are for the ...
USA Today

Trump's Social Security tax cut unlikely, but seniors may get $4,000 'bonus' deduction

A new, $4,000 'bonus' deduction would be available for those age 65 and older who fall within set income limits, under the House GOP mega-bill that passed in May. AARP's Nancy LeaMond says the group ...