No one enjoys tax time, but it can be especially stressful if you're retired and living on a fixed income. An unexpected bill or a smaller refund than anticipated can throw off your entire budget, ...

Christine Benz: Hi, I’m Christine Benz for Morningstar. People who are 65 and older may be able to take advantage of a new senior deduction starting in 2025. Joining me to discuss what you need to ...

In July 2025, the 'One, Big, Beautiful Bill' was signed into law and several new tax law provisions are set to become effective, impacting federal taxes, credits and deductions. This bill makes ...

Before filing your 2025 income tax returns, you need to know about several new tax deductions which are important to bartenders, tattooists and other tipped-wage workers. Here's what you need to know ...

Not to be confused with the additional standard deduction for seniors, the new senior tax deduction allows qualified filers to shelter even more of their income from taxes. Many, or all, of the ...

The new senior tax deduction is worth up to $6,000 for single adults and $12,000 for married couples. This reduces your taxable income for the year, potentially resulting in greater tax savings. It's ...