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 ...

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 ...

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.

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 ...

The type of deduction you take can reduce your tax bill, or even determine how much you get back in refunds this tax season. But what is the difference between standard and itemized deductions? Is one ...

Tax deductions help keep more money in your pocket, and when it's time to file your return, there are typically two ways to take them the standard deduction, *** single fixed amount, or itemize all of ...

Wes Moore campaigned for governor on transparency. That was before he blew through his inherited surplus and Maryland’s rainy-day fund. As Maryland faces what may be unprecedented fiscal deficits, ...

Maryland Gov. Wes Moore’s proposed budget would double taxpayers’ standard deduction while eliminating charitable donations and other itemized deductions, such as mortgage interest and child care ...

Until enactment of the One Big Beautiful Bill Act, officially P.L. 119-21, the availability of a below-the-line deduction that was not the standard deduction or an itemized deduction was a rare event.

New Jersey residents are getting the most out of filing their taxes. According to a SmartAsset 2025 survey, Where Americans Write Off the Most in Taxes, taxpayers from the Garden State have lightened ...