Reported 1 day ago
Trump's recent megabill, now law, introduces various tax breaks that could save eligible Americans significant amounts on their taxes. Key deductions target tipped workers, overtime workers, seniors, and car buyers, with strict income thresholds determining eligibility. Taxpayers should check their adjusted gross income (AGI) from their tax returns, particularly focusing on the modified adjusted gross income (MAGI) for potential benefits. Understanding these details is crucial as these provisions will affect the 2025 tax season.
Source: YAHOO