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 ...

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?

These deductions can lower your taxes and are available to taxpayers across various income brackets and situations.

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

Tax season is upon us again, and it's crucial you understand what you can deduct so you can reduce your bill — and maybe even get a refund. [ READ: The Fastest Way to Get Your Tax Refund] ...

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