The IRS has adjusted federal income tax brackets for 2025, increasing the standard deduction and shifting tax thresholds to account for inflation.

By making these adjustments, the IRS aims to prevent 'bracket creep,' a situation where inflation pushes taxpayers into higher tax brackets without an actual increase in real income. One of the ...

The Internal Revenue Service on Tuesday announced the annual inflation adjustments for standard deductions, marginal tax rates, earned income tax credits, adoption credits and more for 2025.

This makes 2025 a critical year for tax planning, especially for high-income individuals. Inflation adjustments to retirement account contribution limits are expected to be announced later this ...

The amount of retained earnings fluctuates form year to year with changes in your income, dividends or adjustments to the previous period's accounts. You must update your retained earnings at the ...

COLA increase might be just 2.4%—the lowest in years. Here’s how shrinking Social Security raises housing risks for retirees.

AGI is calculated by subtracting allowed adjustments from your gross income. Above-the-line deductions reduce both AGI and taxable income, increasing tax savings. Understanding AGI helps optimize ...

Your adjusted gross income equals your total taxable income minus any adjustments you claim. Note that adjusted gross income is not the same thing as modified adjusted gross income, which is used ...