Tax deductions can lower the amount of income that is subject to tax. Here's more on how tax deductions work, plus 25 tax breaks that might come in handy.

The choice between itemizing your deductions and taking the standard deduction — a decision that can have serious repercussions for a taxpayer's bill to the government — varies across income groups.

When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or to itemize. According to tax pros, itemizing generally makes sense only if your itemized ...

Itemized deductions are specific expenses you can subtract from your taxable income to potentially lower your tax bill. In some cases, they can save you more than the standard deduction, especially if ...

NEW YORK — When tackling your taxes, it can sometimes be hard to figure out whether to itemize or opt for a standard deduction. According to tax pros, itemizing generally makes sense only if your ...

When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or itemize. According to tax pros, itemizing generally only makes sense if your itemized ...

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The Internal Revenue Service (IRS) has released its full list of changing tax rules for 2025, and Americans are likely to see major updates to standard deductions and certain tax credits. The IRS ...