In this week's Ask the Editor Q&A, Joy Taylor answers questions on available tax breaks for retirees with a side hustle.

You don't need to itemize to save money on your taxes. These 13 overlooked deductions and adjustments can lower your taxable income and reduce what you owe.

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Lea Uradu, J.D., is a Maryland state registered tax preparer, state-certified notary public, ...

The IRS issued new instructions in March clarifying the tip deduction limit for self-employed individuals. Married couples must share a single $25,000 limit on the qualified tip income deduction, not ...

Four new tax deductions are available on federal returns for eligible taxpayers whether they itemize deductions, such as claiming mortgage interest, or claim the standard deduction. All four big tax ...

Tax filing season is officially underway, and with it comes a new addition to the federal Form 1040. Schedule 1-A (Form 1040) is used for new deductions stemming from the One Big Beautiful Bill Act ...

Since the enactment of H.R. 1, the One Big Beautiful Bill Act, the Internal Revenue Service has announced that it will not be updating 2025 tax forms such as the W-2 and 1099s to reflect OBBBA changes ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

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 ...

The Schedule 1 Cartel update has left the Steam beta branch, bringing new items and mechanics to the game. Spray Paint is one of the latest items to arrive in Schedule 1, allowing you to create custom ...