The Week on MSN.com · 2dStandard vs. itemized deductions: Which should you take?
"Generally, a standard deduction is the best choice for taxpayers whose total itemized deductions do not add up to more than the standard deduction," said CNBC Select.
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The Week on MSN.com · 2d
The College Investor on MSN.com · Jan 1, 2025Standard Deduction vs. Itemized: Which Is Best For Taxes?
Both the standard deduction and itemized deductions reduce the amount of tax you pay in a given year. So which is better? Should you itemize ... that you can claim without itemizing include ...
The Pros and Cons of Standard vs. Itemized Tax Deductions
“A standard deduction is something you get on your return without ... claim it. You'll be allowed to take a standard tax deduction even if you don't have expenses that qualify you to make itemiz ...
CNET · 19dReady to File Your Taxes? Homeowners Should Know About These Tax Credits and Deductions
When you file your tax return, you must decide whether to take the standard deduction -- $14,600 for single tax filers, $29,200 for joint married filers or $21,900 for heads of household or married filing separately -- or itemize deductions, such as gifts to charity and state taxes.
Tax Deductions 2025 (Tax Year 2024): What Can I Deduct and How Do Deductions Work?
This article was expert reviewed by Lisa Niser, EA, an enrolled agent and tax ... itemized deductions and compare the total to the standard deduction for your filing status. You should claim ...
Did you have big medical bills last year? They may be tax deductible
To claim the medical expenses, however, you must itemize your return rather than take the standard deduction. The standard deduction for tax year 2024 ... these expenses should be used to diagnose ...
Here Are the Work Expenses You Can Deduct on Your Tax Return This Year
Navigating tax season can be a rollercoaster, especially if you're self ... W-2 employees can claim have changed since the Tax Cuts and Jobs Act of 2017 halted some itemized deductions-- including ...
When Can I Deduct Health Insurance Premiums on My Taxes?
You can claim your health insurance premiums on your federal taxes if you meet certain conditions. To deduct your health insurance premiums on your taxes, you need to buy your own health insurance and spend more than 7.5% of your income on medical expenses.
Tax Deductible Donations: A Guide to Charitable Giving and Tax Savings
Donations to charity are generally tax-deductible if you itemize your ... allowed tax filers to claim up to $300 in charitable donations as a deduction without itemizing. That's no longer available.
16 Tax Deductions and Benefits for the Self-Employed
Expenses like a home office, car, insurance, and even your education bills could get you a big tax ... can claim is $1,500, and you cannot deduct depreciation or home-related itemized deductions.
WFH tax deductions: Who qualifies and how much can you get?
If you're among those earning 1099 income, here's a look at how you can claim a tax deduction, wherein you subtract certain expenses from your income to lower your tax bill. Who is eligible for ...
Educational Tax Credits and Deductions You Can Claim for Tax Year 2024
The American opportunity credit can reduce your tax liability by up to $2,500 if you’re paying college tuition and fees. Continuing education, part-time classes and graduate school costs can be ...