Many taxpayers are confused about Form 10-IEA, which is required for opting in or out of the new tax regime, especially those with business income using ITR3 or ITR4. Missing the filing deadline ...

A significant tax change for older adult taxpayers this year comes in the form of a new benefit known as the “senior bonus deduction.” Tucked into President Donald Trump’s 2025 tax bill, this ...

Some homeowners will be surprised that they can't take advantage of the increased deduction. New Jerseyans have been screaming about it for years. Demanding it, clamoring for a change. Now they have ...

When filing your Income Tax Return (ITR), one of the most common questions taxpayers have is: Which form should I use, and how can I maximize my tax savings? If you have income from house property, ...

When the Tax Cut and Jobs Act of 2017 (TCJA) was a major overhaul of the federal tax code that was designed to both reduce taxes and simplify tax filings for most taxpayers. You may recall that tax ...

Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.

In Oklahoma, where the cost of retirement remains a concern for many households, a new federal tax policy could offer real relief. The One Big Beautiful Bill Act (OBBBA), signed into law by the Trump ...

High-earning business owners now have an opportunity to take a massive tax deduction thanks to the One Big Beautiful Bill Act. Still, they may have to implement some financial planning advice to ...

The BBB's new senior deduction is only available to adults 65 and older. High-income seniors won't be eligible to claim it. Right now, the deduction applies only to the 2025 to 2028 tax years. The ...

LAS VEGAS (KTNV) — Americans purchasing new vehicles assembled in the United States can now claim a tax deduction on their auto loan interest, potentially saving thousands of dollars over the next ...

The Trump administration’s tax and spending bill signed into law this month contains many provisions opposed by the congressional delegations of blue states, including Massachusetts. Nevertheless, the ...

"Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay – such as the 'half' portion of 'time-and-a-half' compensation," the IRS said. The ...