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 ...

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

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 ...

Discover what medical expenses are deductible, including examples like insurance premiums and prescriptions, and learn how ...

Tax credits are generally more valuable than tax deductions. There are many types of each: nonrefundable, partially refundable and fully refundable tax credits, and standard vs. itemized deductions, ...

Understanding whether there is a limit on itemized deductions can significantly impact financial planning and tax liabilities. TRAVERSE CITY, MI, UNITED STATES ...

Understanding your 1040 is the best way to legally minimize your taxes. Top tax professionals will tell you that effective tax planning needs to be proactive, not reactive. The best tax planning needs ...

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 ...

For a long time, the standard deduction has been a straightforward option for many U.S. taxpayers. It allows most filers to reduce their taxable income without needing to itemize deductions. The ...

It's tax season, and Americans are confronted by a lot of tax jargon when preparing their returns. Stream NBC 5 for free, 24/7, wherever you are. Two types of tax breaks stand out among all the lingo: ...