As the Republican-led Congress pushes forward with President Donald Trump’s landmark 2025 mega tax bill, you may have noticed ...

The state and local tax deduction, which primarily benefits wealthier Americans in high-tax areas, is one of the most disputed provisions of Trump’s tax bill.

If a single filer’s income is $25,000 to $34,000, the tax applies to as much as 50% of benefits. People with higher incomes are subject to taxes being levied on up to 85% of their benefits.

“Now what happens, your income from salary becomes zero and all you have is income from selling agricultural produce which is not taxable in India. This way, you can save 100 per cent on income tax.

The earned income tax credit is a refundable tax credit of up to $7,830 for tax year 2024. The EITC is calculated using a formula that takes into consideration income and family size.