
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, a tax 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 a volunteer tax preparer.
A lot of people are nervous about doing their taxes, and about managing their money in general. 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 goals. We can do this, people.
— Andrea Coombes, CFP®
Millions of taxpayers will soon benefit from a new above-the-line tax deduction worth up to $2,000 for qualified charitable contributions.
The massive tax law includes a hefty new tax break for people aged 65 or older: A new deduction worth up to $6,000, or $12,000 if married. But there are income limits.
President Trump’s sweeping new tax law includes many provisions that go into effect in 2025. Here’s what you should know.
Most refunds are sent out within 21 days. If you’re wondering where your tax refund is, you can track it online.
The gift tax prevents large tax-free transfers of wealth. But few taxpayers owe this tax, thanks to the annual and lifetime exemptions.
Knowing the difference between your marginal and effective tax rate can help you manage your money better.
The average tax refund so far in 2025 is $2,939, up just $70 from the average refund this time last year. Here’s how tax refunds work.
More than 90 percent of tax refunds are sent out by the IRS in less than 21 days, but some situations can lead to delays.