You probably assume familiar tax breaks will stick around, but this article shows how several routine deductions are shifting and what that means for your wallet. You'll learn which common deductions ...

MAGI is your adjusted gross income. It determines whether you qualify for specific benefits. And with Medicare, it determines whether you will pay higher Part B and Part D premiums. If you have a ...

Overtime pay deduction: Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay. The maximum annual deduction is $12,500 ($25,000 for joint ...

The Senate has approved a House bill that would change the definition of modified adjusted gross income under the healthcare reform law, according to an AHA News Now report. Under the healthcare ...

Many Americans will see bigger refunds and new deductions, while others may be revisiting the dreaded alternative minimum tax ...