Learn how to easily calculate your Required Minimum Distribution (RMD) for 2026. Follow our guide using the IRS Uniform ...

Homeowners now have the chance to write off much more of their state and local tax bills, and this could potentially lead to bigger tax refunds. That’s if they play their cards right on the SALT ...

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. Investopedia / Photo Composite by ...

American taxpayers aged 65 and older will receive a new $6,000 bonus tax deduction next year as part of President Donald Trump’s One Big Beautiful Bill Act. The temporary deduction comes alongside ...

Christine Benz: Hi, I’m Christine Benz for Morningstar. People who are 65 and older may be able to take advantage of a new senior deduction starting in 2025. Joining me to discuss what you need to ...

The IRS issued guidance for workers eligible to claim the temporary deductions for tip and overtime compensation for tax year 2025 and is updating some income tax forms and instructions to help ...

The SALT deduction is only available to taxpayers who itemize their deductions rather than claiming the widely used standard deduction The decision on whether to take the standard deduction or itemize ...

MINNEAPOLIS — While most consumers are familiar with its expansive range of retail products spanning the ready-to-eat cereal, refrigerated dough, soup, snacks and pet food categories, General Mills, ...

The Internal Revenue Service has announced updated standard deduction amounts for the 2026 tax year, including a modest, yet meaningful, increase for Americans age 65 and older. The change, which ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The IRS on Friday issued proposed regulations (REG-110032-25) on the new deduction for tip income contained in the sweeping tax legislation passed over the summer. The rules contain details on ...