Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...

New charitable giving tax rules will soon lower your deduction for donations to charity — here’s what you should do now.

As Americans get ready for the upcoming tax season, sweeping changes are going to affect how individuals and families file this year — including which deductions and credits they can claim. While the ...

Each year, the IRS adjusts charitable gift rules, tax tables, personal exemptions, standard deductions and other tax provisions. This article highlights the key charitable figures for 2024. Each year, ...

President Donald Trump’s One Big Beautiful Bill Act (OBBBA) raised the state and local tax (SALT) cap deduction to $40,000 from the previous $10,000, as previously reported by GOBankingRates. For ...

The post Regulators Clarify Deduction for Qualified Tips appeared first on Self Employed.

In general, the home office must be used exclusively and regularly as the principal place of business or to meet and deal with customers in the normal course of the business. If the taxpayer is an ...

Some of the nation’s foremost charities are locked in a battle with the White House over President Obama’s push to limit the nearly century-old tax deductions on donations to nonprofits, reports The ...