Young and the Invested on MSN

Be prepared: The 2026 standard deduction amounts

The 2026 basic standard deduction amounts represent an increase of 2.22%. That continues a string of smaller increases, ...
Fast Company

This new tax deduction in Trump’s ‘big, beautiful bill’ lets people cash in on charitable donations up to $2,000. Here’s what to know

President Donald Trump’s One Big Beautiful Bill Act, which was recently signed into law, offers Americans a number of tax benefits. It makes many of the changes from the Tax Cuts and Jobs Act (TCJA) ...
Florida Today

What should taxpayers know about a new deduction for charitable gifts?

Q. Hi, Dan. I don’t understand why people are talking about the new deduction for charitable gifts next year. Haven’t charitable gifts always been deductible? — Carl in Rockledge A. Carl, for millions ...
CNBC

Do you qualify for the new $6,000 senior tax deduction?

The standard deduction has been super-sized for seniors. Thanks to provisions in the One Big Beautiful Bill Act, taxpayers 65 and older can claim an additional $6,000 without itemizing their ...
Forbes

Why 2026 Could Be A Good Year For Planned Charitable Giving

Thanks to changes to the tax laws, 2026 gives taxpayers a chance to take a fresh look at their charitable giving. Whether you’re donating cash, stock or money from your retirement account, a little ...
Hosted on MSN

OBBB senior deduction: 8 critical details to know

While the "One Big Beautiful Bill" signed into law by President Trump on July 4 didn't eliminate taxes on Social Security benefits (a promise Trump made on the campaign trail), it did provide a ...
Newsweek

Seniors to Get $6,000 Tax Deduction Next Year

American taxpayers aged 65 and older will receive a new $6,000 bonus tax deduction next year as part of President Donald Trump’s One Big Beautiful Bill Act. The temporary deduction comes alongside ...
USA Today

How Trump's charitable tax deduction laws may influence when you give

It’s nearly the end of the year, the traditional time for giving but before opening your wallet, you should know how tax rules are changing so you can maximize your gifts. Itemizers should hit fast ...
Forbes

A First Look At The New Tax Form For Claiming Deductions For Tips, Overtime, Car Interest And Seniors

Wondering what tax reporting might look like under the One Big Beautiful Bill Act (OBBBA)? The IRS has released drafts of some 2025 tax forms (that you’ll file in 2026), including a draft of the new ...
Investopedia

3 Tax Breaks That Will Change This Year Because of the 'Big, Beautiful Bill'

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Illustration ...
Opinion
CNAOpinion

Commentary: It’s okay to make charitable donations while thinking of the tax break

To support our charities sustainably, we need to understand the idea that altruism and self-interest are not mutually exclusive, says Tony Soh, CEO of the National Volunteer and Philanthropy Centre.