The One Big Beautiful Bill (OBBB) introduces groundbreaking tax deductions, offering substantial savings for millions of ...

Discover how to optimize your Roth savings with the new $6,000 deduction from the One Big Beautiful Bill Act, a key strategy for minimizing taxes in your retirement.

The exact wording of the law actually stipulates a $6,000 tax deduction for individuals aged 65 and older, likely raising the ...

The Treasury Department and the Internal Revenue Service will need to roll out guidance on President Trump's One Big Beautiful Bill Act to explain its newer provisions and how they differ from earlier ...

"No tax on tips" in Trump's so-called "One Big Beautiful Bill" starts in 2025 and expires in four years. It covers only the ...

Now that President Donald Trump signed the bill, workers will be able to deduct up to $25,000 in reported tips and $12,500 in overtime pay from their taxable income on their federal tax returns.

Car buyers may now benefit from a new tax break that allows them to deduct up to $10,000 in auto loan interest each year from their federal income taxes — reducing their taxable income.

The deduction on "no tax on overtime" starts phasing out for single taxpayers with modified adjusted gross income over $150,000 and above $300,000 for married couples filing a joint return.

While you won’t be able to write off the majority of your wedding expenses, you may be able to claim a tax deduction through ...

Beginning on 2025 tax returns, new car buyers might qualify for an above-the-line deduction of up to $10,000 in car loan interest in a year.