The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how ...

Many taxpayers will itemize deductions again on their 2025 federal tax return due to changes affecting the SALT deduction (State and Local Tax deduction). In this clip, we explain why ...

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

The One Big Beautiful Bill Act raises the SALT deduction cap to $40,000 for 2025, potentially prompting more taxpayers—especially in high-tax states—to itemize and increase their tax savings.

Run the numbers: For 2025, the standard deduction is $31,500 for married couples and $15,750 for singles. If your total ...

When the Tax Cut and Jobs Act of 2017 (TCJA) was a major overhaul of the federal tax code that was designed to both reduce taxes and simplify tax filings for most taxpayers. You may recall that tax ...

It’s a decision that every taxpayer is faced with when choosing how to claim deductions on their federal tax return: Do you take the standard or do you itemize? Making the right choice could mean more ...

Tax deductions help keep more money in your pocket, and when it's time to file your return, there are typically two ways to take them the standard deduction, *** single fixed amount, or itemize all of ...

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

Knowing what credits or deductions are available this year could be the difference between dominating and dreading the process.

Congress enacted the alternative minimum tax (AMT) provisions found in IRC sections 55 to 59 to establish a floor so individuals would pay some tax regardless of the exclusions, deductions and credits ...