The standard deduction is $15,000 if you file for tax year 2025 as an individual or married filing separately. Married couples who file jointly have a standard deduction of $30,000.

President Donald Trump and the Republicans in Congress are correct that the national debt has reached catastrophic ...

Instead, Publication 463 says you can take the deduction when "it is necessary for you to stop for substantial sleep or rest to properly perform your duties." If you expect to stay out of town ...

Bonus Depreciation vs. Section 179 . Section 179 allows businesses to claim a larger depreciation deduction for qualifying property for the tax year the asset was put into service. Section 179 ...

If you overpaid your employee, the statute of limitations depends on which state's laws apply. In New York State, the clock starts ticking as soon as you tell your employee there's a problem.