One tax expert says a proposed $4,000 bonus deduction is a 'far cry from the savings' that many would see with no taxes on ...

which you can calculate using the IRS’ sales tax worksheet or sales tax deduction calculator. State and local income taxes generally include: State and local income taxes withheld from your wages.

In tax year 2025, those limits rise to $4,300 ... The Self-Employed Health Insurance Deduction Worksheet on page 90 of the ...

you can use the student loan interest deduction worksheet included in the IRS instructions for Form 1040. If you use some of today’s best tax software to complete your return, the software will ...

The Internal Revenue Service provides a worksheet to calculate your student loan interest deduction in Publication 970, Tax Benefits for Education. Once you've worked through the worksheet (or let ...

House Speaker Mike Johnson and a group of blue-state Republicans reached a tentative deal today to raise the cap for the state and local tax deduction, often referred to as the SALT deduction ...

The legislation — dubbed the One Big Beautiful Bill Act — includes a provision that would lift the tax deduction cap for state and local taxes, or SALT, to $40,000 from its current $10,000 limit.

As lawmakers debate President Donald Trump’s tax cuts, a key deduction could become a sticking point in 2025 tax negotiations, policy experts say. Enacted via the Tax Cuts and Jobs Act ...

The sweeping GOP tax bill calls for an above-the-line deduction of up to $10,000 in car loan interest during a given taxable year. You'd pay no tax on that interest, if you qualified. The proposed ...