What's the difference between standard and itemized deductions? Here's what it could mean for your 2025 tax refund.

Generally, a standard deduction is the best choice for taxpayers whose total itemized deductions do not add up to more than ...

The Maryland Catholic Conference warned that the proposed change could have “unintended consequences” on charitable giving in ...

A significant tax overhaul in 2017 bulked up standard deduction amounts, and in recent years, the IRS has made them even bigger as inflation soared. The standard deduction is a flat dollar amount ...

With tax season officially underway, you'll need to know the standard deduction amount you can claim for 2024. After all, most taxpayers opt to take the standard deduction rather than itemizing ...

Being older has its benefits. Here are two items exclusively for older adults that can help them save on taxes.

1, The standard deduction for salaried individuals has been raised from ₹50,000 to ₹75,000 under the new tax regime, ...

A deduction cuts the income you're taxed on, which can mean a lower bill. A credit cuts your tax bill directly.

This rule lets homeowners deduct the interest they pay on their home loans, lowering their tax liability and reducing the amount they owe to the Internal Revenue Service in a given tax year. If your ...

There are no new itemized deductions for 2024. A standard deduction is a fixed amount that reduces the amount of taxable income. Most taxpayers qualify for the standard deduction, and the amount ...

The type of deduction you take can reduce your tax bill, or even determine how much you get back in refunds this tax season. But what is the difference between standard and itemized deductions?