Perhaps the most noteworthy aspect of the OBBB is the new deduction for seniors across America. Taxpayers who are 65 or older can now claim an extra $6,000 as a tax deduction above their standard ...

The Internal Revenue Service (IRS) recently updated its rules concerning individual retirement accounts (IRAs) for 2025. The annual contribution limits will remain the same this year, as detailed ...

The most significant tax overhaul since 2017 creates unprecedented opportunities—but only for those who act before December ...

The end of the year is a new occasion to boost your retirement savings. As part of your year-end planning for 2024, it's important to look ahead to the new 2025 IRA contribution rules from the IRS.

Taxpayers age 65 and older might be able to benefit from a $6,000 'senior bonus' deduction in the next four tax years. Here ...

Saving now can make things easier down the road. Traditional IRAs offer tax advantages that can help you grow your money more efficiently. But not everyone can take full advantage of those tax ...

Both the standard deduction and itemized deductions reduce the amount of tax you pay in a given year. So which is better? Should you itemize or should you keep things simple and take the standard ...

Individual retirement accounts (IRAs) are available to anyone with taxable income, even if you have retirement benefits at work. Like other types of retirement accounts, IRAs are tax-advantaged: if ...

*Refers to the latest 2 years of stltoday.com stories. Cancel anytime. You now have an extra month to lower your tax bill with contributions to your individual retirement account (IRA). Just like last ...

If you are married and looking for ways to save more money for retirement, consider funding a spousal individual retirement account. A spousal IRA can be opened for a nonworking or nonparticipant ...