Tax Deductions
News, insights and expert analysis on tax deductions from the team at Kiplinger.
Latest
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Over 65? 5 Tax-Saving Benefits You May Qualify for This Year
Retirement If youre 65 and older, you may qualify for several tax breaks, including a larger standard deduction and a new bonus senior bonus deduction.
By Kelley R. Taylor
Retirement -
Will a $1,000 Overtime Deduction Restore Your Take-Home Pay?
State Taxes Alabama's tax-free overtime has officially expired. We analyze the 2026 proposal to restore relief and whether a $1,000 deduction can offset the 22% surge in the cost of essentials.
By Kate Schubel
State Taxes -
Tax Season 2026: 8 Big Changes to Know Before You File
Tax Season Due to several major tax rule changes, your 2025 return might feel unfamiliar even if your income looks the same.
By Kelley R. Taylor
Tax Season -
IRS Updates 2026 Tax Deduction for People Age 65 and Older
Tax Changes Adjustments to the extra standard deduction can impact the tax bills of millions of older adults. Here are some new amounts to know for 2026.
By Kelley R. Taylor
Tax Changes -
Ask the Editor: Questions on the Senior Deduction and Tax Filing
Ask the Editor In this week's Ask the Editor Q&A, Joy Taylor answers questions on the new $6,000 senior deduction and how to claim it on your tax return.
By Joy Taylor
Ask the Editor -
A Bunch of IRS Tax Deductions and Credits You Need to Know
Tax Breaks Lowering your taxable income is the key to paying less to the IRS. Several federal tax credits and deductions can help.
By Kelley R. Taylor
Tax Breaks -
Ask the Editor: Questions on Tax Returns and Decedents
Ask the Editor In this week's Ask the Editor Q&A, Joy Taylor answers questions on how to file a tax return when someone has died and resources you can use to find more help.
By Joy Taylor
Ask the Editor -
14 Education Tax Credits and Deductions to Know
Education From the $20,000 529 plan expansion to the return of the student loan "tax bomb," the new Trump tax bill has overhauled how you pay for school. Here's where to save.
By Gabriella Cruz-Martínez
Education -
New $6,000 'Senior Bonus' Deduction: What It Means for Taxpayers Age 65 and Older
Tax Changes If you’re an older adult, a new bonus tax deduction could provide a valuable tax benefit. Here's how it works.
By Kelley R. Taylor
Tax Changes
