Both the Senate and House versions of the massive tax bill include a hefty new tax break for people aged 65 or older: A new deduction worth up to $6,000. But there are income limits.

Guaranty Trust Bank (GTBank) says it will begin the deduction of Unstructured Supplementary Service Data (USSD) fees from the airtime balance of its customers from June 18.

The ‘SALT’ deduction is still in limbo as Senate Republicans unveil key tax details of President Donald Trump’s spending package. Here’s what to know.

Salaried employees will soon receive their Form 16 for Assessment Year 2025–26, featuring a more detailed breakdown of salary components and newly integrated tax disclosures.

Sport Football Leicester City FC Leicester face HUGE points deduction if found guilty of PSR breaches A number of Premier League and EFL clubs have been given points penalties in relation to ...

With the tax bill’s enhanced deduction of $4,000, single filers 65 and older (earning $75,000 or less) could take a deduction of up to $22,000 in 2025.

The SALT deduction cap was introduced by Mr. Trump in his 2017 Tax Cuts and Jobs Act as a way to offset that legislation's tax breaks, such as its reduction in individual income tax rates.

What’s happening in 2025 regarding SALT deductions? Right now, SALT deduction are capped at $10,000. That cap was put in place in 2017, and it’s set to end after 2025.

The deduction cap would be limited to taxpayers making below $500,000, with the income cap and deduction growing 1% every year over a ten-year window in the tentative new deal.

The deduction cap would be limited to taxpayers making below $500,000, with the income cap and deduction growing 1% every year over a ten-year window in the tentative new deal.