A new tax deduction for many adults 65 and older has plenty of rules and requires new paperwork. What you need to know when filing a 2025 tax return.

The new Schedule 1-A and updated instructions enable taxpayers to claim the new tax breaks for tips, overtime, car loans and ...

Each week, in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on topics submitted by readers. This week she's looking at five questions on itemized deductions ...

Instructions describe how taxpayers can claim a deduction The Internal Revenue Service published, for tax year 2025, a new schedule that taxpayers will use to realize important tax benefits of the One ...

A bigger standard deduction, changes in the itemizing rules and new temporary deductions all complicate the decision. Here’s how to choose the option that’s best for you. When it comes to federal ...

If you’re a homeowner preparing to file your taxes, you’ve probably asked yourself: Should I take the standard deduction or itemize? The answer could make a big difference in how much you save—and it ...

Itemized deductions and the standard deduction are two options that taxpayers can choose when filing their tax returns. The choice affects how much taxable income is reduced, potentially influencing ...

A home is the largest purchase that most Americans will ever make, so most of them have to take out sizable loans to finance them. While mortgage interest rates are relatively low compared with other ...