How much tax you owe depends on your income, but the IRS allows you to claim deductions that reduce your income and the amount of tax you owe. Keep reading to learn about the two main types of ...

Wondering how the new mega tax law will affect your paycheck and taxes? Some of the answers lie in the new W-2 form employees will start getting for tax year 2026. The IRS recently released drafts of ...

The "One, Big, Beautiful Bill Act" (OBBBA), enacted by President Trump in July 2025, includes a substantial and welcome benefit for older Americans: an enhanced tax deduction specifically for seniors ...

Many of the jobs lost in the Great Recession may be back, however, there are always some people in the job market. It's healthy to have an unemployment rate of roughly 5 percent to 6 percent, as it ...

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. Vithun Khamsong / Getty Images The ...

It's free, simple and secure. For the self-employed, health insurance premiums are deductible as an ordinary expense at tax time. Whether you purchase the policy in your name or have your business ...

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Wondering how the new mega tax law will affect your paycheck and taxes? Some of the answers lie in the new W-2 form employees will start getting for tax year 2026. The new forms show how new laws, ...