The post Regulators Clarify Deduction for Qualified Tips appeared first on Self Employed.

The IRS has raised the standard deduction for married couples filing jointly to $32,200 for the 2026 tax year.

In this week's Ask the Editor Q&A, Joy Taylor answers tax questions on the 20% deduction for qualified business income or QBI ...

The One Big Beautiful Bill Act has supersized the standard deduction for seniors. Starting with 2025 federal returns (filed in 2026), taxpayers 65 and older can claim up to $6,000 in addition to the ...

There are a few constants in the small-business world every fall: pumpkin spice everything, a sudden panic about Q4 goals, and that wonderful realization that Section 179 is still here, waiting to ...

How does the deduction work? Here's what to know about the federal write-off for state and local taxes. A deduction to defray homeowners' state income taxes and local property taxes is getting much ...

A United States Treasury government check rests on top of a Social Security card. The Social Security Administration (SSA) issued a press release and an email to tens of millions of Americans claiming ...

Some U.S. homeowners may soon get a sizable tax break thanks to the massive budget package that was passed by the House early Thursday. The legislation — dubbed the One Big Beautiful Bill Act — ...

But the reality is more complicated. Not all seniors will qualify for the deduction, and those most at risk of losing their homes—lower-income seniors and those with little taxable income—might see no ...