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Who Will Be Affected by the $88,100 AMT Exemption for Singles?

DavidOctober 7, 2025

The IRS has announced an **$88,100** **Alternative Minimum Tax (AMT) exemption** for single filers for the current tax year, a figure that significantly influences the tax strategies of high-income individuals. This exemption amount determines the income threshold below which taxpayers are exempt from paying the AMT, a parallel tax system designed to ensure that wealthy...

Estate Exclusion Increases from $135,000 to $13,990,000, Delivering Major Benefits for Heirs

DavidOctober 7, 2025

The federal estate exclusion amount has experienced a historic increase, soaring from $135,000 to an impressive $13,990,000 for the 2023 tax year. This dramatic adjustment marks a significant shift in estate planning, providing substantial benefits for heirs by reducing or eliminating estate tax liabilities for most Americans. This change, driven by inflation adjustments and legislative...

Tax Deduction of Four Thousand Dollars Phases Out for Individuals Earning Over Seventy-Five Thousand

DavidOctober 7, 2025

The federal government has announced a phased reduction in the $4,000 tax deduction available to individual taxpayers, beginning at an income threshold of $75,000. This adjustment, part of recent tax policy modifications, aims to gradually eliminate the deduction for higher earners, effectively phasing it out as income increases beyond the specified limit. For taxpayers earning...

Many Immigrant Households Face $3,000 Loss in SNAP Benefits Under New Law

DavidOctober 7, 2025

Many immigrant households across the United States are confronting a significant reduction in their Supplemental Nutrition Assistance Program (SNAP) benefits, with some experiencing losses exceeding $3,000 annually. The recent implementation of a new federal law has introduced stricter eligibility criteria, disproportionately impacting immigrant communities, particularly those with mixed-status families. This policy shift is expected to...

Over $7,000 Saved in New York Thanks to New SALT Rules—State-by-State Savings Map

DavidOctober 7, 2025

Residents across New York State have collectively saved over $7,000 thanks to recent changes to the State and Local Tax (SALT) deduction rules, according to new analysis released this week. These adjustments, enacted as part of federal tax reform, have significantly impacted how much taxpayers can deduct for state and local taxes on their federal...

How Much Additional Child Tax Credit of $2,200 Can Your Family Receive?

DavidOctober 7, 2025

The Child Tax Credit (CTC) has undergone significant changes in recent years, especially with the enhancements introduced by the American Rescue Plan Act of 2021. One notable adjustment is the provision allowing families to receive an additional $2,200 per qualifying child through the expanded Child Tax Credit. This increase aims to provide greater financial relief...

Boost Your Savings with the $400 Additional Standard Deduction Reduction in 2025

DavidOctober 7, 2025

Taxpayers planning their finances for the upcoming year should take note of a significant change in the standard deduction for 2025: an additional $400 reduction. This adjustment is part of broader tax policy updates aimed at aligning the tax code with inflation and economic conditions. The reduction will directly impact the taxable income calculations for...

Seniors Receive Increased Deduction of $6,000 Compared to Previous $4,000—A Significant Win for Those Aged 65 and Older

DavidOctober 7, 2025

Recent tax reforms have introduced a notable change benefiting seniors: the standard deduction for individuals aged 65 and older has increased from $4,000 to $6,000. This adjustment represents a significant $2,000 boost, providing substantial relief for millions of Americans in retirement or approaching it. The updated deduction aims to ease financial burdens, especially as healthcare...

Average Tax Savings of $3,752 – Are You One of the Winners?

DavidOctober 7, 2025

Recent analyses reveal that the average American taxpayer who itemizes deductions or claims certain credits has saved approximately $3,752 on their federal tax bill through various deductions and credits in the past year. This figure, derived from IRS data and tax industry reports, underscores the growing importance of strategic tax planning. While some taxpayers benefit...

Maximum EITC of $8,046 Compared to $7,830: An Additional $216 for Families with Three or More Children

DavidOctober 7, 2025

The Earned Income Tax Credit (EITC) continues to be a vital financial resource for millions of working families across the United States. Recent updates to the program have increased the maximum amount of credit available, especially for families with three or more children. The current maximum EITC for these households has risen to $8,046, compared...

Senior Deduction of Four Thousand Dollars Phases Out at One Hundred Seventy-Five Thousand Dollar Income

Overtime Deduction of $12,500 Sparks Major Victory for Hourly Workers

Forty Thousand Dollar SALT Deduction Cap for Five Years Before Returning to Ten Thousand

Comparing Child Benefits: Two Thousand Two Hundred Dollars in the US Versus One Hundred Sixty-Five Thousand Rupees in India — An International Perspective

Canada Pension Changes Offer $825,000 Payout Amid US Cuts: An International Comparison

Multnomah County Receives $3,414 Tax Reduction Under New Legislation

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Who Will Be Affected by the $88,100 AMT Exemption for Singles?

Estate Exclusion Increases from $135,000 to $13,990,000, Delivering Major Benefits for Heirs

Tax Deduction of Four Thousand Dollars Phases Out for Individuals Earning Over Seventy-Five Thousand

Many Immigrant Households Face $3,000 Loss in SNAP Benefits Under New Law

Over $7,000 Saved in New York Thanks to New SALT Rules—State-by-State Savings Map

How Much Additional Child Tax Credit of $2,200 Can Your Family Receive?

Boost Your Savings with the $400 Additional Standard Deduction Reduction in 2025

Seniors Receive Increased Deduction of $6,000 Compared to Previous $4,000—A Significant Win for Those Aged 65 and Older

Average Tax Savings of $3,752 – Are You One of the Winners?

Maximum EITC of $8,046 Compared to $7,830: An Additional $216 for Families with Three or More Children

Latest News

Senior Deduction of Four Thousand Dollars Phases Out at One Hundred Seventy-Five Thousand Dollar Income

Overtime Deduction of $12,500 Sparks Major Victory for Hourly Workers

Forty Thousand Dollar SALT Deduction Cap for Five Years Before Returning to Ten Thousand

Comparing Child Benefits: Two Thousand Two Hundred Dollars in the US Versus One Hundred Sixty-Five Thousand Rupees in India — An International Perspective

Canada Pension Changes Offer $825,000 Payout Amid US Cuts: An International Comparison

Multnomah County Receives $3,414 Tax Reduction Under New Legislation

Forty Thousand Dollar SALT Deduction Cap for Five Years Before Returning to Ten Thousand

Comparing Child Benefits: Two Thousand Two Hundred Dollars in the US Versus One Hundred Sixty-Five Thousand Rupees in India — An International Perspective

Canada Pension Changes Offer $825,000 Payout Amid US Cuts: An International Comparison

Stay in the loop

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Senior Deduction of Four Thousand Dollars Phases Out at One Hundred Seventy-Five Thousand Dollar Income

Overtime Deduction of $12,500 Sparks Major Victory for Hourly Workers

Forty Thousand Dollar SALT Deduction Cap for Five Years Before Returning to Ten Thousand

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