President Donald Trump's One Big Beautiful Bill Act (OBBBA) raised the state and local tax (SALT) cap deduction to $40,000 ...

Qualified Small Employer Health Reimbursement Arrangements (QSEHRA) For 2026, to qualify as a QSEHRA, the annual limit on payments and reimbursements is $6,450 for self-only coverage and $13,100 for ...

Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?

In a case of first impression for the Eleventh Circuit, the court affirmed a Tax Court holding that expenses of activities not engaged in for profit, i.e., hobbies, are allowable only as miscellaneous ...

Some of the nation’s foremost charities are locked in a battle with the White House over President Obama’s push to limit the nearly century-old tax deductions on donations to nonprofits, reports The ...