"Generally, a standard deduction is the best choice for taxpayers whose total itemized deductions do not add up to more than ...

In fact, a new study published by SmartAsset finds that in some states households reduce their taxable income by $50,000 to ...

But many taxpayers miss out on this valuable tax break because they don't know which expenses are eligible or how to claim them. Here's what you need to know to deduct eligible medical costs from your ...

While Trump hasn’t clarified whether his proposal would involve itemized or standard tax deductions, it’s essential to note that almost 90% of taxpayers take the standard deduction since it ...

Rather, most pet-related deductions pertain to care for a licensed service animal, according to the IRS' Publication 502, which also "explains the itemized deduction for medical and dental ...

The Ministry of Finance on Wednesday rejected calls to classify mortgage interest payments as a special deduction under the ...

If one spouse itemizes and the other does not, the non-itemizing spouse’s standard deduction amount will be zero, even if each spouse is age 65 or older or blind. Itemized deductions are claimed ...