Tax deduction: Latest News, Top Stories & Analysis

IRS Mileage Rates Shift for 2026 as New Car Loan Tax Break Takes Shape

January 3, 2026January 3, 2026 - by Maryann Pugh

WASHINGTON, D.C. — The Internal Revenue Service is reshaping how millions of Americans calculate driving-related tax deductions in 2026, raising the standard mileage rate for business travel while trimming rates …

Personal Finance

Donor-Advised Funds: A Smart Way to Give

October 17, 2024October 17, 2024 - by Joe Oliver

You can find several ways to make charitable gifts — but if you’re looking for a method that can provide multiple tax benefits, along with an efficient platform for giving …