Looking ahead to your 2025 taxes and wondering about standard tax deduction amounts for each filing status? Here's what's ...

Trending Now: A 529 college savings plan is a special tax-advantaged ... around for the best plan for your needs. However, state tax deductions are only available to state residents, and they ...

Editor’s note: This is part three of a three-part series about college 529 savings plans ... However, some states offer a state-tax deduction if you are a resident and use its in-state plan.

“There are two valuable credits that the IRS reports one out of five people miss every year. The Earned Income Tax Credit is ...

While this college savings vehicle can be a great fit for ... it's possible for the person funding the account to get a state income tax deduction on their contributions. Money in a 529 plan ...

For self-employed taxpayers, SEP IRA and SIMPLE (Savings Incentive Match Plan for Employees) IRA contributions are “above the line” tax deductions ... of her college. She grew up waitressing ...

Utah residents can receive a tax deduction of 4.55% on up to $219.31 per year (up to $109.66 per year for single filers). New York's low-cost 529 College Savings Program is a direct-sold plan ...

There are many different approaches to saving for college, but 529 plans are used by more Americans than any other option — 30% of Americans use a 529 plan. It’s easy to see why, since 529 ...

Writing off an expense as a tax ... deductions might include charitable deductions, deductions for state and local taxes, home mortgage interest, student tuition and fees, contributions to health ...

But navigating the tax payment process can be a bit more complex when you work for yourself, so understanding potential credits and deductions is important. One of these is the qualified business ...

Some tax benefits have been long established, while others now apply to changing work situations. Knowing which deductions you qualify for can help maximize savings. A financial advisor could ...