There are four new federal tax deductions to know ahead of tax season in the United States.

The One Big Beautiful Bill Act made significant changes in the tax benefits of charitable giving, increasing tax benefits for ...

Financial advisor fees are not tax-deductible now, but there are still tax benefits from working with an advisor.

Tax season is underway and you have until April 15 to file your return with the IRS. If you want to avoid the stress of the looming deadline, start getting organized as soon as possible. “Don’t wait ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. eggeeggjiew / Getty Images A new ...

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions or standard — a flat rate.

Many Americans will see bigger refunds and new deductions, while others may be revisiting the dreaded alternative minimum tax. Don’t panic just yet. Credit...Joanne Joo Supported by By Tara Siegel ...

The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how ...

The basics of the car loan interest deduction is that it must be a new vehicle assembled in the United States, with the loan being a first lien on the vehicle. The deduction has an annual limit of $10 ...

In the recently released Field Service Advice 20260401F, the Internal Revenue Service concluded that the transfer of a non-voting interest in an investment limited liability company to a tax-exempt ...

Are political donations tax deductible? Find out what the IRS allows, plus where state-level exceptions may apply. Read on for more details: ...

There are four specific situations under federal IRS rules that could allow you to claim pet-related costs as a business, medical, or charitable expense — if you qualify. Pet tax deductions for dogs, ...