Each spring, millions of taxpayers face a deceptively simple question — take the standard deduction or itemize? For those not versed in the lingo of taxes, the distinction can be confusing. But ...

Carl Carlson, founder and CEO of Carlson Financial, looks at the difference between standard and itemized deductions on your ...

Most people claim the standard deduction on their federal tax return instead of itemizing deductions. How much can you claim?

For the 2026 tax season, knowing the standard deduction is vital, as it reduces taxable income without itemizing, offering taxpayers a simpler path to lowering their taxes efficien ...

President Donald Trump’s One Big Beautiful Bill Act (OBBBA) raised the state and local tax (SALT) cap deduction to $40,000 from the previous $10,000, as previously reported by GOBankingRates. For ...