Owners spent nearly $1.5 billion last year on racehorses, a big increase over 2024. A new tax provision allows them to immediately deduct the full cost of the purchase.

Gathering all your documents, signing up for direct deposit and keeping copies of your tax returns are some of the best practices when it comes to preparing to fill out your taxes.

The 2026 tax filing season has begun. Here are the key dates you need to know. During this filing season, taxpayers will need to use the newly created Schedule 1-A to take advantage of the new tax ...

The Georgia Senate on Thursday approved two bills that would dramatically scale back the state’s individual income tax.

The promise of a low-tax paradise sounds incredible. Pack up your life, head south or west, skip state income taxes, and ...

In this week's Ask the Editor Q&A, Joy Taylor answers questions on federal income tax deductions ...

Millions of seniors who receive Social Security benefits will get a ‘bonus’ tax deduction this year. The new $6,000 deduction goes into effect for the 2025 tax year and will continue through 2028 for ...

The enhanced deduction for seniors applies on 2025 tax returns to adults born before Jan. 2, 1961. If you're 65 or older now, you can claim an additional deduction of up to $6,000 or $125,000 for ...

Tax time could be a little less stressful this year for some retirees, thanks to the new senior tax deduction introduced in President Trump's "big, beautiful bill." But it's important to be clear ...