A key provision included in the law will raise the cap on the State and Local Tax (SALT) deduction to $40,000.

The bill extends portions of the Tax Cuts and Jobs Act, provides deductions to eliminate income taxes on certain tips and ...

In a marked political win for President Donald J. Trump and his Administration, H.R. 1, the One Big Beautiful Bill Act, ...

President Trump’s domestic agenda bill spans military and immigration measures, major cuts to national healthcare, and ...

The GOP’s “big, beautiful bill” will impact people’s finances through tax provisions, cuts to social programs and diminished ...

As Australian taxpayers prepare to file their tax returns for the 2024-25 financial year, the Australian Taxation Office (ATO ...

“Cost of living is front of mind for many taxpayers and it is tempting to increase tax deductions to generate a refund but there are risks with trying to push the envelope with the ATO,” Chartered ...

Deducting home equity loan interest can save you money on your tax bill, but you have to understand the rules under the Tax Cuts and Jobs Act (TCJA) of 2017. A loophole allows homeowners to deduct ...

Tax deductions help keep money in your pocket. When it’s time to file your return, there’s typically two ways to take them – the standard deduction, a single, fixed amount the IRS lets you ...

In order to take advantage of the mortgage interest tax break, we have to itemize and file Schedule A of Form 1040 to prove we have tax deductions amounting to over $29,200, which is the standard ...

If you took out a home equity loan or home equity line of credit (HELOC) after 2018, you might be able to deduct the interest you paid. To qualify, the money must have been used to “buy, build ...