Taxes

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Don’t miss your opportunity to make a 2025 IRA contribution — whether you can deduct it or not

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March 24, 2026 , ,

IRA Contribution

Generally, each year you can contribute up to the annual limit to a traditional or Roth IRA (or a combination of the two). But once the contribution deadline has passed, the opportunity to contribute for that year is lost forever. The deadline for 2025 IRA contributions is April 15, 2026. You may be eligible to deduct all or part of your IRA contribution and save taxes on your 2025 return. But even if you can’t claim a deduction, contributing can still be beneficial.
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It’s your last chance to claim these clean energy tax breaks

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March 17, 2026 , , , ,

clean energy tax break

Last year’s One Big Beautiful Bill Act (OBBBA) terminated several clean energy tax incentives earlier than previously scheduled. But if you bought an electric vehicle or made certain green home improvements last year, you might be eligible for a tax credit on your 2025 individual income tax return.
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April 15 is the deadline for more than just your income tax return

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March 10, 2026 , , ,

April 15 Deadline

You know your 2025 federal income tax return is due April 15, 2026. But do you know what else has an April 15 deadline? If you don’t, you could miss out on valuable tax-saving opportunities or become subject to interest and even penalties.
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4 types of interest expense you may be able to deduct

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March 3, 2026 , , , ,

deductible interest

Personal interest expense generally can’t be deducted for federal tax purposes. There are, however, exceptions. Here are four, one of which is a new break under the One Big Beautiful Bill Act (OBBBA), which was signed into law in 2025.
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Parents: Claim all the tax credits you’re entitled to

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February 24, 2026 , ,

child tax credits

Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax credits, because they reduce your tax liability dollar for dollar (unlike deductions, which only reduce the amount of income subject to tax). Here’s what you need to know.
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Quadrupled SALT deduction limit means more taxpayers will benefit from itemizing on their 2025 returns

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February 17, 2026 , , ,

SALT deduction 2025

An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under the One Big Beautiful Bill Act (OBBBA) will make it beneficial for more taxpayers to itemize deductions on their 2025 returns. Specifically, if you paid more than $10,000 in state and local taxes (SALT) last year, you might save tax by itemizing on your 2025 return even if claiming the standard deduction has saved you more tax in recent years.

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If you’re married, should you file jointly or separately

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February 10, 2026 , ,

filing jointly

Married couples have a choice when filing their 2025 federal income tax returns. They can file jointly or separately. What you choose will affect your standard deduction, eligibility for certain tax breaks, tax bracket and, ultimately, your tax liability. Which filing status is better for you depends on your specific situation.
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Before claiming a charitable deduction for 2025, make sure you can substantiate it

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February 3, 2026 , , ,

charitable deduction

If you itemize deductions on your 2025 individual income tax return, you potentially can deduct donations to qualified charities you made last year. But your gifts must be substantiated in accordance with IRS requirements. Exactly what’s required depends on various factors. In some cases, you must have a written acknowledgment from the charity.
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Tax filing FAQs for individuals

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January 20, 2026 , , , ,

2025 individual tax faqs

The IRS is opening the filing season for 2025 individual income tax returns on January 26. This is about the same time as when the agency began accepting and processing 2024 tax year returns last year, despite IRS staffing having been significantly reduced since then. Here are answers to some FAQs about filing.

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