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Last weekend, I was out for drinks with my brother and we got into an argument about who was going to pay the tab. I wish I could say it was because we’re both so generous. Quite the opposite: We both wanted the points. Whoever didn’t pay that night was going…

If you’re worried about owing gift taxes if you give money or property away, keep this in mind: Very few taxpayers end up on the hook for this particular tax. There are two reasons why. You can give away up to $19,000 in 2025 (it was $18,000 in 2024) per…

kate_sept2004/GettyImages Key takeaways The sales tax deduction is one piece of the SALT, or state and local taxes, deduction. You must itemize to claim it, and you must choose between claiming sales taxes or state and local income taxes. In addition to sales or income tax, you can also claim…