Itemized deductions might add up to more than the standard deduction. The more you can deduct, the less you’ll pay in taxes, which is why some people itemize — the total of their itemized ...

Several provisions of Trump's bill are poised to be retroactive to 2025 or take effect in 2026, and they may shift how ...

Homeowners have two choices when claiming deductions to reduce their taxable income: the standard or itemized deduction. But which one is better to maximize savings? Learn More: Can You Write Off ...

The president’s tax bill brings charitable write-offs ‘above the line,’ allowing even filers who use standard over itemized ...

According to tax pros, itemizing generally makes sense only if your itemized deductions add up to more than the current standard deduction of $13,850 for a single filer and $27,700 for a married ...

If you own a home or have various deductions that total more than $24,800, then itemizing clearly makes sense. But if your deductions don't exceed that total, then it pays to go with the standard ...

Claiming the standard deduction is easier, because you don’t have to keep track of expenses. The 2023 standard deduction is $13,850 for single taxpayers ($20,800 if you’re filing as head of ...

Millions of taxpayers will soon benefit from a new above-the-line tax deduction worth up to $2,000 for qualified charitable ...