The IRS recently updated its income tax bracket ranges and the standard deduction for 2025. Depending on your income level, ...

The Tuition and Fees Deduction was phased out, but there are two main credits still available. Learn more about college ...

A tax credit directly reduces a person’s actual tax liability, or tax bill. Unlike deductions (which reduce income before ...

The 1040 tax form is the form taxpayers use for filing federal taxes. It's also a form that plenty of people have trouble filling out or understanding. In fact, back in 2018, Form 1040 received ...

The potential cap, which would limit how much philanthropic donors can deduct from their state taxes, adds to a climate of ...

Enacted via the Tax Cuts and Jobs Act, or TCJA, of 2017, there’s currently a $10,000 limit on the federal deduction on state and local taxes, known as SALT. Residents who itemize tax breaks ...

Michigan taxpayers hit by storms in August 2023 might have good reason now to amend those returns. How they might claim a personal casualty loss.