ItemizedDeduction

Too often, taxpayers are led to believe that if they don't itemize, then there are no real deductions available to them beyond the standard deduction. In reality, there are a number of deductions that a taxpayer can claim without itemizing. Here are 10 ways to maximize your tax deductions --...

Taxpayers pay income tax on their income, less certain deductions. One choice is between the "standard deduction" and "itemized deduction," and taxpayers are allowed to use whichever number is higher. Many taxpayers use the standard deduction because it is easy. It is a flat amount determined by...