Learn how to easily calculate your Required Minimum Distribution (RMD) for 2026. Follow our guide using the IRS Uniform ...

Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Composite by ...

American taxpayers aged 65 and older will receive a new $6,000 bonus tax deduction next year as part of President Donald Trump’s One Big Beautiful Bill Act. The temporary deduction comes alongside ...

Christine Benz: Hi, I’m Christine Benz for Morningstar. People who are 65 and older may be able to take advantage of a new senior deduction starting in 2025. Joining me to discuss what you need to ...

The Elective Deferral Limit is the maximum contribution that can be made on a pre-tax basis to a 401(k) or 403(b) plan (Internal Revenue Code section 402(g)(1)). Some still refer to this as the $7,000 ...

The IRS issued guidance for workers eligible to claim the temporary deductions for tip and overtime compensation for tax year 2025 and is updating some income tax forms and instructions to help ...

Each spring, millions of taxpayers face a deceptively simple question — take the standard deduction or itemize? For those not versed in the lingo of taxes, the distinction can be confusing. But ...

Microsoft announced new agents for Word, Excel, and PowerPoint. They can help to shrink the gap between ideation and production. Other Copilot updates include an expanded Voice mode. In the era of AI ...

Income phase-out ranges for IRAs, Roth IRAs, and Saver’s Credit also increase The Internal Revenue Service has announced a new round of cost-of-living adjustments that will raise contribution limits ...

The Internal Revenue Service has announced higher contribution limits for 401(k) and individual retirement accounts for 2026, giving savers and their advisors new benchmarks as they plan for the ...