CharitableDeductions

When it comes to deductions, many taxpayers miss out -- not because they don't qualify for the deductions, but because they fail to keep good records. It's often difficult to remember on April 15 all of the miles you've driven, charities you've supported and taxes you've paid. Here are five tips...

Each year, taxpayers have the option of claiming the standard deduction or the itemized deduction. For the tax year 2009, the standard deduction for single taxpayers or for those married filing separately is $5,700; for married taxpayers or qualifying widow(er)s, the standard deduction is $11,400;...