Aside from no tax on tips and no tax on overtime, here are the other new and enhanced deductions this year: No Tax on Car Loan Interest: Individuals may deduct interest paid on a loan used to purchase ...

The IRS has released a set of FAQs to answer questions about eligibility, reporting, and limits for the new, temporary ...

You’ve been counting on your paycheck to cover bills, groceries, or maybe a small treat, only to find it’s way less than expected. For countless American workers, paycheck deductions can feel like a ...

Overtime pay deduction: Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay. The maximum annual deduction is $12,500 ($25,000 for joint ...

The IRS adjusts tax brackets and standard deductions each year for inflation. This could account for some workers seeing slightly higher paychecks at the beginning of the year. Temporary deductions ...

From the $20,000 529 plan expansion to the return of the student loan "tax bomb," the new Trump tax bill has overhauled how you pay for school. Here's where to save.