Page 20 - Standard Deduction News Today

When you file your federal income tax return, you have two choices: take the standard deduction or itemize your deductions. According to the IRS, most taxpayers use the option that lowers their tax...

It’s the season of giving. Of course, you may be thinking of the gifts you’re planning to give to your loved ones and friends, but you may well want to

A personal finance column by John Ninfo

The Minnesota Department of Revenue announced the adjusted 2022 individual income tax brackets.

Thinking about making a charitable contribution? Check out the special tax break for donations made by the end of 2021.

Thinking about making a charitable contribution? Check out the special tax break for donations made by the end of 2021.

I was really hoping for 2021 to be a much quieter year. It didn’t work out the way I had it planned!

Remember the old days when you could gain a tax benefit for paying your property taxes in December, generously donate to qualified charities and deduct your mortgage interest?

As Gov.-elect Glenn Youngkin works with Republican legislators on a wide-ranging plan to cut taxes, two Democratic senators are talking about their own ideas to bring income tax relief to

While the new tax regime offers lower slab rates to taxpayers, it allows no exemptions or deductions. Calculate your tax liability under both before choosing one.