For 2025, married couples over 65 filing jointly will also see a modest benefit. The extra deduction per qualifying spouse ...

Sen. Josh Hawley (R-Mo.) is pushing a new “No Taxes on Healthcare Act” that would let households deduct up to $25,000 in ...

Thanks to Trump's spending bill, taxpayers in the U.S. can expect no taxes on overtime and tips beginning this upcoming tax ...

Sen. Josh Hawley proposes a $25,000 deduction for medical expenses to reduce healthcare costs, though benefits may vary ...

Takeaways For tax years 2025 -2028, the One Big Beautiful Bill Act (OBBBA) allows employees to take an above-the-line tax deduction on qualified overtime pay and qualified tips.

On November 21, 2025, the Internal Revenue Service (IRS) issued Notice 2025-69, providing guidance and clarification on the ...

Year-end planning can significantly boost the benefits of new tax changes, helping taxpayers reduce liabilities and maximize ...

Among other employment measures, July’s One Big Beautiful Bill Act gives FLSA non-exempt workers a limited ability to deduct overtime pay from ...

Americans who are 65 and older got a hefty new tax break under the massive tax bill that President Donald Trump signed into law on July 4: A new bonus deduction that’s worth as much as $6,000 per ...

President Trump discussed his "no tax on tips" plan in January. The IRS has released its guidance for the "no tax on tips" ...

Colorado residents can claim tax deductions on charitable donations over $500 to qualified nonprofits and religious ...

The “One Big Beautiful Bill,” signed into law this summer, can have a significant impact on federal taxes, credits and ...