Itemized Deduction News Today

With strategic planning, Americans can reduce their tax liability via tax deductions and credits. Common deductions include qualified mortgage interest payments, student loan interest, property taxes and other expenses. Taxpayers have the option to itemize deductions above and beyond the standard tax deduction. For the 2023 tax year, the standard deduction is $13,850 for individuals […] The post Where Americans Write Off the Most in Taxes – 2024 Study appeared first on SmartReads b...

Even though it is a huge life accomplishment, buying a home is only the beginning of a whole new standard of financial planning. There are many ways you'll spend money -- on bills, maintenance and...

January 29 is the official start of the 2024 tax filing season. That means starting Monday through April 15, you can file your 2023 returns.

We had a chance to talk to Bryan Frew, CPA, about Nebraska's new pass-through entity tax election and why it is important.

As the season of giving gets underway, experts say Americans are being less charitable this year.

Find out ways to gain tax benefits on your pet, if you are wondering “Can I claim my emotional support dog on my taxes?”

Our healthcare system may be broken, but you don't have to go down without a fight.

Gambling losses are indeed tax deductible, but only to the extent of your winnings. Find out more about reporting gambling losses on your tax return.

You could be taking advantage of major tax breaks this year.

With the recent storms in Kentucky and other natural disasters — and concerns about more in the future — knowing how to claim this may be increasingly useful.