Thomas is a native of upstate New York and a graduate of the University at Albany. As a former member of CNET's How To team, he wrote about the intersection of policy, information and technology, and ...

Forbes contributors publish independent expert analyses and insights. Joseph J. Thorndike writes about tax history. The state and local tax deduction has been a part of the federal income tax from the ...

Instead of bolstering relief to help families access critical public goods and services, Republicans in Congress are pushing policy changes to help the rich keep or grow their wealth. A fierce tax ...

One of the biggest tax decisions that a couple can make is whether to take the standard deduction or itemize. The standard deduction offers a straightforward way to reduce your taxable income. In 2025 ...

The sales tax deduction lets you deduct the state and local sales taxes you’ve paid throughout the year, but only if you itemize your deductions. If you live in a state with no income tax or have made ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Illustration ...

Taxpayers can reduce the amount they pay each year by deducting qualifying expenses from their taxable income. The fastest way to do that is to take the standard deduction, a flat amount offered to ...

Every year, countless taxpayers leave money on the table during tax season simply because they aren't aware of all the deductions they qualify for. While many people know about the standard deductions ...

Forbes contributors publish independent expert analyses and insights. Peter J Reilly is a Forbes contributor who covers taxes. The provision adds Section 224 to the Internal Revenue Code which allows ...