In this week's Ask the Editor Q&A, Joy Taylor answers questions on itemized deductions claimed on Schedule A of Form 1040 ...

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 ...

Question: Is it worth going through the effort of adding up all my out-of-pocket medical expenses, charitable contributions and other items or should I just take the standard deduction for 2023?

The nationwide tax filing deadline is just one day away on Tuesday, April 15. If you've left your filing to the last minute and need a refresher, Newsweek has broken down everything you need to know ...

As you prepare to file your next tax return, should you do the same? Standard deduction vs. itemized deductions Claiming the standard deduction is certainly easier. To itemize, you need to keep track ...

Congress enacted the alternative minimum tax (AMT) provisions found in IRC sections 55 to 59 to establish a floor so individuals would pay some tax regardless of the exclusions, deductions and credits ...

Question: Is it worth going through the effort of adding up all my out-of-pocket medical expenses, charitable contributions and other items or should I just take the standard deduction for 2024?