New charitable giving tax deduction worth up to $2,000 is coming soon, and you don’t have to itemize
Millions of taxpayers will soon benefit from a new above-the-line tax deduction worth up to $2,000 for qualified charitable contributions.
Andrea Coombes, an editor at Bankrate, translates complex personal finance topics into understandable language that helps people live their best financial lives. She’s a CERTIFIED FINANCIAL PLANNER™ and over the past 25 years has worked as a financial coach, personal finance writer and editor, and volunteer tax preparer.
Her work has been published in The Wall Street Journal, USA Today, MarketWatch and many newspapers nationwide. She's been interviewed on local and national TV and radio, including NPR's All Things Considered, CBS News, NASDAQ and Marketplace.
Andrea has moderated panels on how to invest for retirement, how to use 529 college savings plans and more, and she's an experienced personal-finance speaker who has presented to groups on a variety of topics such as how to budget, improve credit, manage debt, and build savings. She's also worked as a personal financial coach and certified consumer credit counselor, helping people reach their goals. For two tax seasons, she worked as a volunteer tax preparer.
A lot of people are nervous about managing their money. I'm here to say: It's not rocket science. There are small steps each of us can take to slowly start moving towards our long-term financial goals. We can do this, people.
— Andrea Coombes, CFP®
A growing number of states are moving to a flat tax system to collect income taxes. That can be good news for taxpayers, but there are potential downsides.
Lawmakers have introduced a new bill that aims to permanently end taxes on Social Security benefits. High-income earners may not like it.
These 10 tax credits and deductions can help you trim your tax bill and, in some cases, even boost your refund.
When disaster strikes, taxes may be the last thing on your mind. But the casualty loss deduction can offer much-needed financial relief.
New tax breaks on tip income and overtime pay go into effect this year. Event planners, hairdressers, handymen and Uber drivers are among those who qualify for no tax on tips.
In many cases, keeping tax records for three years is long enough, but there are a few exceptions.
The Oct. 15 tax deadline is coming up fast for anyone who filed an extension. Here are 4 tips to help you get ready to file your tax return.
The AMT, or alternative minimum tax, has its own set of tax rates and rules. Here’s how it works, how to calculate your bill, and the changes coming in 2026.