Trulia’s Chief Economist discusses why a low cap on itemized deductions would reduce homeownership benefits for the middle class. That's because housing-related tax deductions, including home mortgage ...

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 ...

As 2025 comes to an end, it is an appropriate time to revisit state and local tax deductions and charitable giving plans. The One Big Beautiful ...

You don't have much choice when it comes to whether to pay your taxes, but you can decide how to approach your tax deductions -- those allowable subtractions that can lower the amount you owe in taxes ...

As the April 15 tax deadline approaches, here’s what you need to know about claiming deductions on your tax return. The standard deduction is a flat-dollar reduction to your adjusted gross income (AGI ...

Taking deductions when filing your taxes can reduce the amount you owe. But there are two different ways to claim deductions, and the one you choose can impact how much you save. The far more common ...

Itemized tax deductions are eligible expenses the government allows you to deduct from your adjusted gross income to arrive at your taxable income. It seems like every year I get asked, "What are ...

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 ...

New in 2025 is an extra $6,000 per individual, in addition to the standard deduction, for those over age 65 who meet the ...

While you don't have much choice when it comes to paying taxes, you can benefit from significant deductions that reduce the amount you owe Uncle Sam. "We're allowed to take deductions against income," ...