By increasing the State and Local Taxes (SALT) deduction cap from $10,000 to $40,000, the bill seeks to provide taxpayers ...

Proposed changes to the SALT deduction cap could deliver significant tax relief to many Americans, especially higher earners ...

The charitable contributions deduction reduces taxable income by allowing individual taxpayers and businesses to deduct contributions of cash and property to qualified charitable organizations.

President Trump’s proposed One Big Beautiful Bill, which the House of Representatives passed last week, contains several provisions applicable ...

Qualified charitable distributions have surged in popularity thanks to a shift away from itemized deductions, but experts say ...

If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out ...

Deducting charitable donations What is a charitable contribution? How to deduct a charitable donation The requirements for a tax-deductible charitable contribution Overlooked tax-deductible ...

The House passed a major tax and spending bill ahead of Memorial Day, with Senate debate looming over key provisions like SALT caps, Medicaid work requirements, and charitable deductions.

You need to itemize to take a tax deduction for your charitable donations, but fewer people itemize now that the standard deduction has doubled. Even if you don’t itemize, there are other ways ...

Taxpayers who donate to charitable causes can use a federal income tax deduction to reduce what they owe the IRS. However, only those who itemize their deductions can take advantage of it.

To save the state an estimated $165 million, Healey has proposed restricting charitable deductions to $5,000 for individuals and $10,000 for married couples filing jointly. Currently, there is no ...