The Senate’s version of the “big, beautiful bill,” passed on Tuesday, includes a $6,000 tax deduction for Americans 65 or ...

How some older adults could see federal income tax savings of $480 or more from a new senior "bonus" tax deduction, if it's ...

Businesses benefit from Senate changes that would make permanent a series of breaks that had been offered only temporarily in ...

Senate make a 180-turn, raising the SALT cap and reviving a loophole that allow rich Americans in high-tax states save money, experts say.

Learn about tax deductions, what you can deduct, and how deductions work to lower your taxable income. Maximize your tax savings with our comprehensive guide.

While tax deductions reduce the amount of income you have to pay taxes on, tax credits directly reduce what you owe. Here's a breakdown of the differences between the two. Tax credits: Dollar-for ...

Before 2018, the tax break — including state and local income and property taxes — was unlimited for filers who itemized ...

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 over $500,000.