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2. What Is the Tax Cuts and Jobs Act (TCJA)? - AOL

   www.aol.com/finance/tax-cuts-jobs-act-tcja...

   The Tax Cuts and Jobs Act of 2017 made major changes to individual and business tax code, particularly as pertains to deductions, depreciation, tax credits and expenses. For businesses, many of ...

3. Caring for a Senior? Here's How to Get the Highest Memory ...

   www.aol.com/lifestyle/caring-senior-heres...

   How do you calculate tax deductions for memory care? Only qualified, unreimbursed medical expenses that exceed 7.5% of a taxpayer’s adjusted gross income (AGI) are deductible.

4. Tax season 2025: Everything to know before you file, and how ...

   www.aol.com/finance/tax-season-2025-everything...

   Filing status. 2024 standard deduction amount. Single. $14,600 (up $750 from 2023) Head of household. $21,900 (up $1,100 from 2023) Married filing jointly

5. Employee compensation in the United States - Wikipedia

   en.wikipedia.org/wiki/Employee_compensation_in...

   Employee benefits in the United States might include relocation assistance; medical, prescription, vision and dental plans; health and dependent care flexible spending accounts; retirement benefit plans (pension, 401(k), 403(b)); group-term life and long term care insurance plans; legal assistance plans; adoption assistance; child care benefits ...

6. State and local tax deduction - Wikipedia

   en.wikipedia.org/wiki/State_and_local_tax_deduction

   The Tax Cuts and Jobs Act of 2017, signed into law by President Donald Trump, capped the total SALT deduction at $10,000 for the tax years 2018 through 2025. [24] The bill also increased the standard deduction, which significantly reduced the number of taxpayers who claim the SALT deduction. [25]

7. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   This facilitated amendments to 2011 tax returns to claim a casualty tax deduction. [ 4 ] Gambling losses, but only to the extent of gambling income (For example, a person who wins $1,000 in various gambling activities during the tax year and loses $800 in other gambling activities can deduct the $800 in losses, resulting in net gambling income ...

8. Do You Have to Pay a Long-Term Care Tax? - AOL

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   Since long-term care insurance is expensive, only 7% to 10% of Americans have a long-term care policy. According to the Department of Health and Human Services, more than 50% of us will need long ...

9. How all 50 states tax retirement income: A comprehensive list ...

   www.aol.com/finance/states-that-tax-retirement...

   Michigan. Michigan’s flat state income tax rate rose for 2024 to 4.25%, and the law surrounding the state’s pension deduction also changed, as part of a phaseout of the state’s three-tier ...