Tax Tip: Standard Deduction Vs. Itemizing

When filing your tax return, is it better to take the standard deduction, or to itemize?

Topics:  tax   standard deduction   
BING NEWS:
  • Do you itemize? Trump's Congress could raise the cap on the SALT tax deduction in 2025
    Wealthy taxpayers could get a break if Congress and Trump agree to raise the limit on federal deductions based on your local tax payments.
    01/15/2025 - 9:04 pm | View Link
  • Work For Yourself? Don't Miss Out On Claiming This Tax Deduction
    An easy route is the simplified home office deduction, which allows a self-employed ... Do you have a news tip for Investopedia reporters? Please email us at Investopedia requires writers to ...
    01/14/2025 - 6:20 am | View Link
  • Know these deduction limits before filing 2024 tax returns
    Regardless of the extension, any tax liability must be paid by April 15. Q: What is the standard deduction for 2024? A: For married couples, it is $29,200 plus $1,550 for each spouse age 65 or over.
    01/12/2025 - 10:45 pm | View Link
  • Thinking Ahead on Taxes? Tax Deductions Explained for 2025 Filings
    Tax deductions can tip the scales — a lot — meaning ... You can either go with the standard deduction, which is a predetermined amount that is subtracted from your income, or itemized ...
    12/25/2024 - 12:01 am | View Link
  • Tax Credit vs. Tax Deduction: Unraveling the Tax Benefits
    Here's a look at some of the most common deductions that taxpayers can claim, whether they take the standard deduction or itemize: Quick tip: Working with a tax professional can help you uncover ...
    12/24/2024 - 4:16 am | View Link
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