The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how to choose the option that’s best for you.

Each spring, millions of taxpayers face a deceptively simple question — take the standard deduction or itemize? For those not versed in the lingo of taxes, the distinction can be confusing. But ...

Taxpayers can reduce their IRS bill by deducting qualifying expenses from their taxable income. The easiest way to do that is to take the standard deduction, a flat rate offered to nearly all ...

If you’re a homeowner preparing to file your taxes, you’ve probably asked yourself: Should I take the standard deduction or itemize? The answer could make a big difference in how much you save—and it ...

Understanding whether there is a limit on itemized deductions can significantly impact financial planning and tax liabilities. TRAVERSE CITY, MI, UNITED STATES ...

Filing taxes can be daunting, but understanding your options for reducing your taxable income can help make it easier and save you money. U.S. taxpayers have two main options for reducing their ...

When tax season rolls around, deductions and credits can make a real difference in how much you owe — or how much you get back. Deductions lower the portion of your income that’s taxed, while credits ...

Here, accountants and tax experts share the four deductions most people forget about that cost you money.

It’s important for both residents and businesses to understand California state income tax brackets and how they impact what ...