Check your tax withholding at the start of each year, even if your circumstances seemingly stayed the same. Tax laws change.

A new deduction will lower the tax bill for many older Americans this year. Taxpayers, however, need to ensure they qualify and claim the deduction when they file their taxes this year.

Launched by the Finance Minister Nirmala Sitharaman in September 2024, the scheme allows parents to save for their children’s ...