President Donald Trump's One Big Beautiful Bill Act (OBBBA) raised the state and local tax (SALT) cap deduction to $40,000 ...

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Lea Uradu, J.D., is a Maryland state ...

@2024 - All Right Reserved.

The standard deduction is the dollar amount that reduces the amount of income on which you are taxed. And, for tax year 2023, that figure has changed. Standard vs. itemized According to the Internal ...

In a case of first impression for the Eleventh Circuit, the court affirmed a Tax Court holding that expenses of activities not engaged in for profit, i.e., hobbies, are allowable only as miscellaneous ...

Tax consequences to an individual whose stock, securities or other property lose value by reason of a crime may be significantly affected by whether the losses "arise…from theft" within the meaning of ...