A deduction cuts the income you're taxed on, which can mean a lower bill. A credit cuts your tax bill directly. Learn more about common tax breaks and write-offs — and how to claim them. Many, or all, of the products featured on this page are from our ...

Some 'no tax on tips' occupations might surprise you: Podcasters, social media influencers, plumbers and house painters. The new, special tax break on tips is retroactive and applies to eligible tip income earned in all of 2025. Clowns entertain crowds at ...

Tax strategy doesn’t just happen in April. While it may feel like you just filed your 2024 taxes a minute ago, the time to set yourself up for success in your 2025 taxes is now. Most high earners with complex wealth would benefit from itemizing ...

Tax season can reduce even the most organized individuals to stressed-out procrastinators. And if you're anything like me, you're not exactly the most organized individual in the first place. The complexity of gathering documents, understanding deductions ...

Plus: Fantasy football winnings, tax benefits related to cars, stock options, a nod for IRS Chief Counsel, Taylor Swift tax, tax filing deadlines, and tax trivia.

President Donald Trump's "no tax on tips" policy covers eight industry categories, including food service, entertainment, hospitality and personal services under the One Big Beautiful Bill Act.

The Trump administration released its preliminary list of occupations not required to pay income tax on their tips under Republicans’ new tax cuts and spending bill. Occupations that qualified were broken down into eight categories. The categories ...