The IRS has released a set of FAQs to answer questions about eligibility, reporting, and limits for the new, temporary ...

When tax season rolls around, deductions and credits can make a real difference in how much you owe -- or how much you get ...

Keep reading to find out who qualifies and how to claim the deduction.

Social Security benefits remain taxable on federal income tax returns. But many older adults can save money with new enhanced ...

Are IRA contributions tax-deductible? They might be, but eligibility depends on income, filing status and participation in a ...

Add Yahoo as a preferred source to see more of our stories on Google. Senior citizens who are also homeowners have to worry about property taxes in most states — but not all! But the reality is more ...

How does the deduction work? Here's what to know about the federal write-off for state and local taxes. A deduction to defray homeowners' state income taxes and local property taxes is getting much ...

For 2025, these autos have a Section 179 tax deduction limit of $12,200 in the first year they are used. In fact, if the ...

Drivers are looking at a long list of rules if they're hoping to claim a new tax deduction for car loan interest on 2025 federal income tax returns.

But the reality is more complicated. Not all seniors will qualify for the deduction, and those most at risk of losing their homes—lower-income seniors and those with little taxable income—might see no ...

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 ...