The tax code saw some important updates for 2025, with new deductions and credits designed to help working families, seniors, and service-industry employees. Below is a simple overview of what changed—and what it could mean for you when you file next year. 1. Standard Deduction Increases The standard deduction—what most taxpayers use instead of itemizing—has gone up again for 2025 : Single or Married Filing Separately:  $15,750 Head of Household:  $23,625 Married Filing Joint

The Beneficial Ownership Information (BOI) report is a regulatory requirement in the United States aimed at enhancing transparency...

Estimated tax payments are quarterly payments made to the IRS (and sometimes to state tax authorities) by individuals or businesses that...

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If you've recently acquired a new plug-in electric vehicle (EV) or fuel cell vehicle (FCV) in 2023 or later, you may be eligible for a...

Making energy improvements to your home not only benefits the environment but can also bring financial advantages through tax credits....

Important 2024 Tax Dates The IRS has outlined the following crucial deadlines for the upcoming tax season: January 16, 2024: Fourth...