Learn about new 2025 tax deductions and credits from the OBBBA, including overtime, senior and car loan breaks, so you can avoid missing valuable tax savings.

At a 12% marginal tax rate, for example, the $6,000 enhanced senior deduction for a single taxpayer who is 65 or older would result in $720 in tax savings. The new enhanced deduction for seniors on ...

COLUMBIA — South Carolina boat owners can expect to see their property tax bills sink under legislation advancing in the Statehouse. Currently, boat owners must separately title and pay taxes annually ...

South Carolina’s senators have given the green light to a change in how state and local governments tax watercraft, moving the bill one step closer to the governor’s desk. The state Senate on ...

The deduction is designed to help seniors reduce their taxes through 2028. The lowest-income seniors are unlikely to benefit from the deduction. Experts worry about the impact the tax break will have ...

Locksmiths, tattoo artists and pedicab drivers are among those who could benefit from a new deduction this tax season that lowers the burden on workers who received tips as part of their income last ...

A generous donation once came with a predictable bonus: a lower tax bill. That assumption no longer holds true for millions of households, and the shift has reshaped how giving fits into financial ...

Why are we asking for donations? Why are we asking for donations? This site is free thanks to our community of supporters. Voluntary donations from readers like you keep our news accessible for ...

As tax season gets underway, there are several new tax provisions approved by Congress in 2025 that will impact millions of returns this year. No Tax on Tips, a pledge from President Donald Trump, is ...