Kelly Phillips Erb is a Forbes senior writer who covers tax. Author’s note: The standard deduction amounts, state and local tax (SALT) caps, and maximum amount of the child tax credit have been ...

For tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their federal return.

Now that your 2025 tax return has been filed — hopefully so, anyway — it’s possible you’d rather think of almost anything else. But while the topic is fresh in your mind, it’s worth considering ...

From standard deduction amounts to tax brackets and Medicaid cuts, here’s what individual filers need to know about tax ...

At a 12% marginal tax rate, for example, the $6,000 enhanced senior deduction for a single taxpayer who is 65 or older would result in $720 in tax savings. The new enhanced deduction for seniors on ...

One of the biggest tax decisions that a couple can make is whether to take the standard deduction or itemize. The standard deduction offers a straightforward way to reduce your taxable income. In 2025 ...

Taxpayers should prepare for major tax-policy shifts this year. Forbes’ expert contributors explain how — and when — key rule changes may affect you. With so many rule changes taking effect at once, a ...