Category
Economy
Markets, trade, employment, prices and economic policy.
Credibility summary
Of the 186 claims in Economy with evidence either way, 91% held up.
Showing 881-900 of 1595 claims
If you work in a job where tipping is typical you may deduct up to $25000 of tips from federal income taxes for tax years 2025 through 2028.
Tips must be voluntary servers who receive an automatic 18 percent cannot deduct that.
The tax break which requires a Social Security number is reduced for single filers with modified adjusted gross income over $150000 or $300000 for joint filers.
Families who paid adoption expenses can take a credit of up to $17280 per child and the credit became partially refundable in tax year 2025.
Filers who are married but filing separately are not eligible.
To get free money you must open an account via your federal tax return.
Michael and Susan Dell will seed accounts of children born 2016 through 2024 with $250 if they live in ZIP codes where median household incomes are below $150000.
You cannot double-dip if using an employer-provided dependent care flexible spending account.
For U.S. citizens born between Jan 1 2025 and Dec 31 2028 the government will provide a one-time contribution of $1000.
At least one parent's Social Security number along with the child's is necessary to qualify.
People 65 and older are eligible for a tax deduction of up to $6000 for individuals and $12000 for married couples.
You cannot use this deduction if you donate to a donor-advised fund and certain other entities.
They will get a deduction as if they were in the 35 percent bracket.
The maximum mortgage interest you can deduct is not rising from $750000 for recent mortgages.
The SALT deduction decreases incrementally for those with modified adjusted gross income over $500000 and the $10000 ceiling returns for those with income of $600000 or more.
Starting in the 2026 tax year people in the 37 percent tax bracket won't get the full benefit of the deduction for charitable contributions.
Some people may get up to $1700 in the form of a refundable credit.
The tax break is available for tax years 2025 through 2028 to filers who take the standard deduction and those who itemize.
Vehicles include new cars minivans sport utility vehicles pickup trucks and motorcycles.
The new law made permanent some expiring tax breaks including a larger standard deduction.
Recently analyzed in Economy
Some price increases stemmed from tariffs other factors like housing and food costs played a larger role
June inflation highest since February Trump's tariffs increased prices
Prices are rising because of tariffs
Risk is that investors begin to doubt United States will pay back its debts and start demanding higher interest rates
The New York Times
Country is still on track to borrow an alarming amount of money in coming years
The New York Times