Seniors could get a bigger tax deduction this year, but the rules matter. Here's what to know before filing.

Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. Legal fees as income? Why worry about deducting legal fees? Most ...

It may seem like a good idea at the time, but it's going to cost you.

The SALT deduction is only available to taxpayers who itemize their deductions rather than claiming the widely used standard deduction The decision on whether to take the standard deduction or itemize ...

The One Big Beautiful Bill Act (OBBBA) included a new tax deduction for seniors. Eligible filers can get a $6,000 tax break.

Not everyone gets to benefit.

Taxpayers who buy a new car assembled in the U.S. may be able to deduct up to $10,000 from their taxable income beginning in 2025. To help sort out the details, the IRS is rolling out additional ...

Now that we're more than a month into the new year, tax season is in full swing. Many people having already received their necessary tax forms (W-2s, 1099s, and the like) and started filing. For some ...

Financial advisor fees are not tax-deductible now, but there are still tax benefits from working with an advisor.