The new federal break for older taxpayers is not a "retirement tax credit" at all, but a sizable extra deduction that trims ...

Itemized deductions and the standard deduction are two options that taxpayers can choose when filing their tax returns. The choice affects how much taxable income is reduced, potentially influencing ...

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 ...

About 144 million Americans may qualify for the 2026 universal charity deduction, while high earners face new IRS limits.

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 ...

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 ...

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 ...

A classically trained French hornist by education, Nick Wolny is a managing editor at CNET Group, where he oversees the Perspectives franchise and written branded content across CNET Group's ...

This article is the first in a new column, Personal Financial Planning, covering the role of CPAs in advising individuals and ...

Trump predicts record tax refunds in 2026. Here’s how new tax laws, withholding changes, and timing could mean a bigger ...