The Latest Breaking News from Tax Deduction

In this week's Ask the Editor Q&A, we answer tax questions from readers on four new tax deductions in the "One Big Beautiful Bill."

Trump’s "Big Beautiful Bill" brings some big changes that could impact you. Learn more about the changes and some money moves the middle class can make today.

Tax season can feel overwhelming, but it’s also a golden opportunity to keep more of your hard-earned money. Every year, millions of Americans miss out on valuable tax deductions simply because they don’t know they exist or assume they don’t qualify. These overlooked tax deductions can add up to hundreds…

Under Trump’s ‘big bill,’ the Senate Finance Committee has proposed a larger bonus tax deduction for older adults than the House. Will it pass?

Tax season can feel like a maze, and it’s easy to miss out on valuable deductions that could put more money back in your pocket. Many people focus on the obvious write-offs, like mortgage interest or charitable donations, but there are plenty of lesser-known tax deductions that are perfectly legal…

Trump and the GOP are now offering a tax deduction for auto loan interest. How will it work?

The US Senate has unanimously passed the No Tax on Tips Act, offering up to $25,000 in annual tax deductions for tipped workers in a rare show of bipartisan support.

Bipartisan bill to created tax deduction of up to $25,000 now goes to House but experts have criticized measure

Some lawmakers and President Trump want to offer overtime tax relief. But will a tax deduction or an exemption help you most?