Compare what you paid in sales tax to your state and local taxes. Deduct the larger of the two. But there's a catch. Many, or all, of the products featured on this page are from our advertising ...

The state and local tax deduction, a write-off that primarily benefits higher-income Americans living in high-tax areas, was one of the most disputed provisions of Trump’s tax-and-spend bill. The law ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, ...

Thanks to provisions in the One Big Beautiful Bill Act, the standard deduction has been super-sized for seniors: Taxpayers 65 and older can now claim up to an additional $6,000 without itemizing their ...

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

The new senior tax deduction is available to seniors age 65 and older, regardless of whether they itemize deductions. All seniors hoping to claim this deduction must include their Social Security ...