The standard deduction nearly doubled as a result of the Tax Cuts and Jobs Act, which went into effect in 2018. For taxes ...

There were rumours that the government might hike the amount of standard deduction available to give tax relief to the middle ...

“Finance Minister Nirmala Sitharaman, in Budget 2025, retained the standard deduction benefit for salaried individuals and ...

Each year the Internal Revenue Service (IRS) sets new income thresholds for the various tax brackets to keep up with ...

The 2024 mileage rate for use of your vehicle to do volunteer work for certain charitable organizations is 14 cents a mile.

Legal betting nationwide for Sunday’s 59th Super Bowl between the Eagles and Chiefs is expected to generate a record-setting ...

Standard deduction is a flat deduction available on the salary income that helps reduce the taxable income of a t ...

The standard deduction allows taxpayers to reduce taxable income without proof. Introduced in 1974 and abolished in 2005, it ...

What is the standard deduction? It is a fixed amount of money deducted from amount automatically deducted from an ...

A nonrefundable credit can reduce your tax liability to zero but not below that. Refundable credits can reduce your liability ...

Very few people like tax season, but missing out on valuable deductions could mean leaving money on the table. Many taxpayers overlook key write-offs that could lower their bills or put more money ...