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 ...

For tax year 2025, an individual filer over 65 will be able to deduct up to $23,750 from their federal return.

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 ...

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

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 ...

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 ...

OBBBA has introduced a ‘Seniors Deduction’ for retirees over 65, of up to $6,000 for individuals ($12,000 for couples), in ...

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