The so-called "big, beautiful bill" includes consequential changes affecting one of America’s most distinctive ...

On May 22, 2025, the House of Representatives passed the One Big Beautiful Bill Act (OBBBA). Tax-related proposals contained in the OBBBA would ...

The 'One Big Beautiful Bill Act' proposes a significant change to the SALT deduction, increasing the cap from $10,000 to ...

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

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 ...

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.

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 ...

The charitable deduction can be tricky to navigate, but in general you can deduct the full amount of cash donated or the fair market value of property, such as clothing or stock holdings ...

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 ...