Thomas is a native of upstate New York and a graduate of the University at Albany. As a former member of CNET's How To team, he wrote about the intersection of policy, information and technology, and ...

Taxpayers can reduce their IRS bill by deducting qualifying expenses from their taxable income. The easiest way to do that is to take the standard deduction, a flat rate offered to nearly all ...

Instead of bolstering relief to help families access critical public goods and services, Republicans in Congress are pushing policy changes to help the rich keep or grow their wealth. A fierce tax ...

Forbes contributors publish independent expert analyses and insights. Joseph J. Thorndike writes about tax history. The state and local tax deduction has been a part of the federal income tax from the ...

One of the biggest tax decisions that a couple can make is whether to take the standard deduction or itemize. The standard deduction offers a straightforward way to reduce your taxable income. In 2025 ...

The interest you pay on your mortgage could help you lower your taxes. With the mortgage interest deduction (MID), you can write off a portion of the interest on your home loan, lowering your taxable ...

The Senate has narrowly passed the One Big Beautiful Bill Act by a 50-50 vote, with Vice President Vance breaking the tie. The bill now moves to the Joint Conference Committee for reconciliation of ...

The standard deduction is set to climb again for the 2025 tax year, with married couples filing jointly able to shield $31,500 of income from federal income tax. That higher threshold will shape how ...