Homeowners have two choices when claiming deductions to reduce their taxable income: the standard or itemized deduction. But ...

You can claim the standard deduction even if you have no expenses that qualify as itemized deductions. You don’t need to keep records of expenses. It’s simple, and you don’t need to educate ...

In fact, a new study published by SmartAsset finds that in some states households reduce their taxable income by $50,000 to upwards of $100,000 through itemized deductions. With tax season coming ...

With tax season here, understanding whether to itemize deductions or take the standard deduction can help you maximize ...

The type of deduction you take can reduce your tax bill, or even determine how much you get back in refunds this tax season. But what is the difference between standard and itemized deductions?

Looking ahead to your 2025 taxes and wondering about standard tax deduction amounts for each filing status? Here's what's ...

The Tax Cuts and Jobs Act of 27. nearly doubled the standard deduction and eliminated or capped many itemized deductions. They were things like investment related expenses, tax preparation.

When it’s time to file your return, there’s typically two ways to take them – the standard deduction, a single, fixed amount the IRS lets you deduct, or itemized deductions, where you add up ...