Multnomah County residents are set to see a significant reduction in their property taxes this year, as new legislation approved by state lawmakers will result in a $3,414 decrease in the average tax bill. The legislation, passed earlier this month, aims to ease the financial burden on homeowners amid rising living costs and increased inflationary...

Recent discussions surrounding President Donald Trump and his financial strategies have brought attention to a specific aspect of his investment planning: the $5,000 annual contribution limit to his personal account. While contribution limits are common in various savings and retirement accounts, the application and implications of such a cap in Trump’s financial context have sparked...

The recently enacted tax legislation introduces a new deduction aimed at assisting taxpayers with specific expenses related to gas and auto loans. The $1,000 deduction is designed to provide relief to individuals and families who rely heavily on personal vehicles for their daily commute and related transportation needs. However, eligibility criteria are precise, and not...

The Internal Revenue Service (IRS) has announced that the Flexible Spending Account (FSA) contribution limit for the 2025 plan year will increase to $3,300, marking a $200 rise from the previous year’s cap of $3,100. This adjustment allows employees to set aside more pre-tax dollars to cover eligible healthcare expenses, potentially reducing taxable income and...

The recent expansion of the Child Tax Credit, which provides up to $2,200 per qualifying child, is significantly increasing the number of families eligible for refunds. This adjustment, driven by changes in federal policy and ongoing pandemic relief measures, has resulted in a notable shift in how families file their taxes and claim benefits. According...

The recent decline in Housing and Urban Development (HUD) funding has raised alarms across many communities, threatening vital programs aimed at reducing homelessness nationwide. The federal agency’s budget has plummeted from approximately $3.3 billion to just $1.1 billion for the upcoming fiscal year—a nearly 67% decrease that jeopardizes existing initiatives and the support systems for...

Residents of Rhode Island are poised to see an average $3,286 reduction in their annual tax bills, thanks to recent legislative updates and state budget adjustments. This anticipated tax cut reflects a combination of economic growth, strategic fiscal planning, and targeted policy measures aimed at easing the financial burden on middle-income families. The Rhode Island...

Massachusetts residents are experiencing significant financial relief following the implementation of the Trump tax plan, with average taxpayers receiving approximately $5,139 in tax savings. This surge in tax relief reflects a combination of federal adjustments aimed at reducing tax burdens and state-specific responses to the new federal guidelines. According to recent data from the Internal...

Residents of Maine recently experienced an average tax cut of $3,204 per filer, a significant financial relief as policymakers aim to ease the burden on middle-income families. This figure positions Maine among states with notable tax reductions, sparking comparisons across international borders. When placed alongside tax policies in countries such as Canada, India, and the...

For many taxpayers, particularly those in higher income brackets, deducting over seven thousand dollars in state and local taxes (SALT) can significantly reduce their federal taxable income. The recent overhaul of SALT deduction limits by the Tax Cuts and Jobs Act (TCJA) capped this deduction at $10,000, which has reshaped the landscape of tax planning...