Review our rundown on federal tax brackets. Next on the tax prep checklist are tax credits, which are deductions’ more valuable cousins: They provide dollar-for-dollar cuts in any tax you owe.

Many taxpayers believe their tax return is set in stone, but by taking action before Dec. 31, you can improve your tax outcome. Here’s a checklist ... on tax credits and deductions.

The IRS has unveiled the updated tax brackets and standard deductions for the 2025 tax year, reflecting adjustments for ...

Eligible deductions include medical expenses (over 7.5% of AGI), mortgage interest, state/local taxes (up to $10,000 per year), and charitable contributions. The American Opportunity Tax Credit ...

which includes your filing status and estimated tax deductions. The end of the year is a great time to review your W-4 and current withholding to decide if you want to change it. The IRS' Tax ...