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

Itemizing is a way to pick and choose your tax deductions. Here's how it works and how to tell if it's for you. Many, or all, of the products featured on this page are from our advertising partners ...

About 144 million Americans may qualify for the 2026 universal charity deduction, while high earners face new IRS limits.

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 ...

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 household) ...

Changes to filing taxes and tax deductions coming in 2026 means there are some steps some can take to save money before the new year.

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 ...

Several changes are favorable for broad participation, while others trim deductions for higher-income households. Planning ...

Learn how tax deductibles work to lower your taxes. Discover common deductions like student loan interest, charitable ...

A federal law created in 2017, called the Tax Cuts and Jobs Act, lowered federal income taxes in various ways. But most were ...

Itemized deductions and the standard deduction are two options that taxpayers can choose when filing their tax returns. The choice affects how much taxable income is reduced, potentially influencing ...