Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?

Taxes in retirement can feel complicated, especially when you want to make sure you’re not leaving money on the table. You ...

Question: Is it worth going through the effort of adding up all my out-of-pocket medical expenses, charitable contributions and other items or should I just take the standard deduction for 2024?

Many retirees think that once they take the standard deduction, they can't claim any other tax breaks. That's not true, and believing it could cost them thousands of dollars each year, especially amid ...

To be clear, the 2026 standard deduction applies to income you earn in 2026 but is for the tax return you'll file in 2027. The 2025 standard deduction applies to the federal income tax return you'll ...

A bigger standard deduction, changes in the itemizing rules and new temporary deductions all complicate the decision. Here’s how to choose the option that’s best for you. When it comes to federal ...

Taking deductions when filing your taxes can reduce the amount you owe. But there are two different ways to claim deductions, and the one you choose can impact how much you save. The far more common ...

If you are in the process of filing 2025 state and federal income tax returns, you may be stumped by the decision to either file using standard deduction or spend the extra time and effort needed to ...

TAMPA, Fla. (WFLA) — The Internal Revenue Service has announced new tax inflation adjustments for the 2026 tax year. Thursday, the IRS posted several notable changes, including those from the ...

Tax deductions reduce your taxable income to help lower your overall tax bill. While most people claim the standard deduction, there are dozens of lesser-known opportunities that could help you keep ...