MiBolsilloColombia on MSN

A new tax deduction worth up to $12,000 is now available for seniors but there's a catch

A guide to the new 'Bonus Deduction' from the OBBB. Learn who qualifies for the up to $6,000 (single) or $12,000 (married) ...

Florida Seniors 65+ can get a new $6,000 tax break for 2025, but it's not automatic

Seniors 65 and older can claim a new federal tax deduction up to $6,000 for 2025, but it's not automatic. Learn how to get ...

"No Tax on Tips" deduction: which jobs qualify and how much you could save

The White House has reported that, on average, Americans will receive about $1,300 more in their pocket through the deduction.

Is There a Tax Deduction for Financial Advisor Fees?

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

How to Maximize Your Tax Return

A practical walkthrough of individual tax-planning essentials ...

How to qualify for the new $25,000 tip deduction on 2025 taxes

A new tax deduction for tip income is available for 2025 federal income tax returns. Learn the new form to file, who qualifies, and income limits.
Hosted on MSN

Tax credits or tax deductions: Which will save you more?

Although paying taxes is a fact of life, the IRS offers taxpayers the ability to reduce what they owe via various tax credits and tax deductions. A tax credit reduces the amount of taxes you owe ...

4 new deductions could lower your tax bill. What to know.

New IRS Schedule 1-A for 2025 introduces 4 new deductions for tips, overtime, car loan interest and seniors. These changes could lower your tax bill.

Is Mortgage Interest Tax Deductible?

As tax season rolls around, you may have a number of questions on your mind — including whether your mortgage interest is deductible for tax year 2025. The short answer is yes, but whether or not ...