The Latest Breaking News from Tax Deduction

The Social Security Administration stated that US President Donald Trump's bill will eliminate federal income taxes on Social Security benefits to offer immediate relief to seniors.

Senate Republicans released proposed tax changes for Trump’s ‘one big, beautiful bill.” Some provisions are already stirring debate.

Tax season can feel overwhelming, but it’s also a golden opportunity to keep more of your hard-earned money. Every year, millions of Americans miss out on valuable tax deductions simply because they don’t know they exist or assume they don’t qualify. These overlooked tax deductions can add up to hundreds…

Under Trump’s ‘big bill,’ the Senate Finance Committee has proposed a larger bonus tax deduction for older adults than the House. Will it pass?

Tax season can feel like a maze, and it’s easy to miss out on valuable deductions that could put more money back in your pocket. Many people focus on the obvious write-offs, like mortgage interest or charitable donations, but there are plenty of lesser-known tax deductions that are perfectly legal…

Trump and the GOP are now offering a tax deduction for auto loan interest. How will it work?

The US Senate has unanimously passed the No Tax on Tips Act, offering up to $25,000 in annual tax deductions for tipped workers in a rare show of bipartisan support.

Bipartisan bill to created tax deduction of up to $25,000 now goes to House but experts have criticized measure

Some lawmakers and President Trump want to offer overtime tax relief. But will a tax deduction or an exemption help you most?

A new bipartisan bill and a tax plan from the House GOP could mean bigger retirement tax savings to offset taxes on Social Security and high prices.

In our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter Editor, answers readers' questions on tax deductions and losses.