Around 10% of people itemize their deductions now, and they are typically wealthier. The other 90% take the standard deduction, which expanded in the 2017 Trump tax cuts and will get bigger under the ...

Recent SALT deduction rule changes may result in higher tax bills for some high earners, particularly in high-tax states. Taxpayers should review the updates carefully to avoid surprises.

Workers who pick up extra shifts may now qualify for temporary relief on their overtime pay. From 2025 through 2028, single ...

Trump’s “big beautiful bill” includes a temporary $40,000 SALT deduction cap. But the phaseout could trigger a tax surprise ...

The Social Security Administration lied about the GOP budget bill in a message to beneficiaries. Can we trust anything it ...

The AGI is then adjusted or “modified” further to get to the MAGI. For a single filer, the deduction is completely phased out if income is $250,000 over the MAGI threshold.