Only deductible W-2 wages are included in calculating a taxpayer’s Sec. 199A qualified business income deduction.

H.R. 1, P.L. 119-21, the law commonly known as the One Big Beautiful Bill Act (OBBBA), contains provisions of special ...

Social Security numbers (SSNs) must be shown on the return for each child for whom the credit is being claimed, but also, new ...

Taxpayers opting for the old tax regime can continue to claim deductions on donations made to eligible charitable organisations under Section 80G of the Income Tax Act, 1961. To clarify how such ...

The IRS has released 2026 tax brackets—here’s how understanding your bracket can help you save with smart retirement and Roth ...

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 ...

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 ...

Michael and Susan Dell’s donation made news for a lot of reasons–including that it was targeted to a government program, not a public charity. Here’s what you need to know about private foundations, ...