Janet Berry-Johnson, CPA, is a freelance writer with a background in accounting and income tax planning and preparation for individuals and small businesses. Her work has appeared in Business Insider ...

A check mark. It indicates that the relevant content has been reviewed and verified by an expert This story has been reviewed by a professional to ensure you get the most accurate and useful ...

Taylor Tepper covered banking, investing and pretty much everything else in personal finance for more than a decade, with his work appearing in the New York Times, Fortune and MONEY magazine, as well ...

Tax deductions help keep more money in your pocket, and when it's time to file your return, there are typically two ways to take them the standard deduction, *** single fixed amount, or itemize all of ...

Taxpayers can reduce their IRS bill by deducting qualifying expenses from their taxable income. The easiest way to do that is to take the standard deduction, a flat rate offered to nearly all ...

Writing off an expense as a tax deduction is often framed as an easy way to put money back in your pocket — but it is a little more complicated than that. A tax deduction simply allows you to lower ...

Turning 65 doesn't just mark a milestone in life, it can also unlock valuable tax savings. The IRS grants seniors an extra standard deduction. This deduction can lower taxable income by thousands of ...