Know Whether to Take the Standard Deduction or Itemize Before You File
Just the Tip: Every taxpayer chooses each year between the standard deduction, a fixed IRS amount, and itemizing actual expenses ...
Thursday, July 9, 2026
Tag: Deduction
Beyond the BBQ: Memorial Day Is Also a Reminder to Claim the New $6,000 Senior Tax Deduction Before Summer
For many retirees, Memorial Day marks the unofficial start of summer, filled with cookouts, family gatherings, and travel plans. However, ...
Can a Missing Statement in a Donation Letter Cost You the Entire Deduction? – Houston Tax Attorneys
Donating land to a city seems like a straightforward charitable act. You find a piece of property, decide to give ...
7 Reasons Washington State’s Long‑Term Care Deduction May Not Benefit Every Worker Paying Into It
If you’ve noticed a new deduction coming out of your paycheck in Washington State, you’re not alone. The WA Cares ...
The IRS Medical Pool Deduction: How a Doctor’s Note Can Turn a Swimming Pool Into a Tax Write‑Off
As the summer approaches and things start to heat up, many people are looking at having pools installed or getting ...
Home office deduction: Do you qualify, and how does it work?
Key takeaways The home office deduction is available to many self-employed filers who regularly and exclusively use part of their ...
What’s the Difference Between a Deduction and a Credit?
Key takeaways A tax deduction lowers taxable income. Your taxable income is then multiplied by your tax rate to compute ...
Section 199A Deduction: S corp, Sole Proprietorship
Key Findings The pass-through businessA pass-through business is a sole proprietorship, partnership, or S corporation that is not subject to the ...
How to Qualify for the New $25,000 Tip Deduction on 2025 Taxes
Roughly 6 million people reported income from tips on federal income tax returns in the past — and you can ...
Itemized Deductions vs. Standard Deduction: Which Saves More?
Key Takeaways Standard vs. itemized deductions both reduce taxable income, but the standard deduction is a flat amount while itemizing ...
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