The "One Big Beautiful Bill" (OBBB) that President Trump signed into law on July 4 made significant changes to the deduction ...

Charitable tax deductions are about to see the biggest changes in nearly a decade in 2026 thanks to President Donald Trump ’s ...

Itemized deductions are expenses that taxpayers can claim on their federal tax returns that reduce their amount of taxable income. According to the IRS, 87% of American taxpayers claim the standard ...

In addition to several other changes to tax law, the One Big Beautiful Bill Act of 2025 (OBBBA) creates new ways to handle charitable donations.

Seniors 65+ often save more with the high Standard Deduction + $6k OBBBA bonus, making itemizing (and the SALT deduction) ...

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 ...

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 ...

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

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 ...

According to the IRS, 87% of American taxpayers claim the standard deduction when filing their taxes, because it’s easy, there’s less paperwork to keep track of, and under President Trump’s Tax Cuts ...

Claiming the standard deduction is easier, because you don’t have to keep track of expenses. The 2023 standard deduction is $13,850 for single taxpayers ($20,800 if you’re filing as head of household) ...

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 ...