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.

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions ...

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 ...

The IRS has announced the annual inflation adjustments for the year 2025, including tax rate schedules, tax tables and ...

Comprehensive guide to U.S. itemized deductions for 2026, covering Schedule A, SALT limits, medical expenses, interest, charity, and 1040-NR ...

A new deduction will lower the tax bill for many older Americans this year. Taxpayers, however, need to ensure they qualify ...

One of the biggest decisions people make at tax time is whether to itemize or take the standard deduction. Most people take the standard deduction, according to IRS data, but tax pros warn that if you ...

The new $6,000 deduction goes into effect for the 2025 tax year and will continue through 2028 for those aged 65 and older.

For the 2026 tax season, knowing the standard deduction is vital, as it reduces taxable income without itemizing, offering taxpayers a simpler path to lowering their taxes efficien ...