This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated. NEW YORK (AP) — When tackling your taxes, it ...

When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or to itemize. According to tax pros, itemizing generally makes sense only if your itemized ...

How much tax you owe depends on your income. However, the federal government, through the Internal Revenue Service, allows you to claim deductions that reduce your taxable income and the amount of tax ...

This article is the first in a new column, Personal Financial Planning, covering the role of CPAs in advising individuals and ...

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? Is one ...

When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or itemize. According to tax pros, itemizing generally only makes sense if your itemized ...

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 Your ...

As you prepare to file your next tax return, should you do the same? Standard deduction vs. itemized deductions Claiming the standard deduction is certainly easier. To itemize, you need to keep track ...

The tax code has seen substantial changes under President Donald J. Trump's One Big Beautiful Bill Act (OBBBA), which made permanent many individual tax cuts while introducing new, targeted benefits.

Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.

NEW YORK (AP) — When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or itemize. According to tax pros, itemizing generally only makes sense if your ...