Articles related to standard deduction
How Much Is Your Standard Deduction? - Tax Planning - About.com
Taxpayers can opt to take a standard deduction (a flat dollar amount that reduces taxable income) or itemize their deductions instead.
Preparing Your 1040 - Standard or Itemized Deductions?
Make the most of your tax deductions. Take the larger of your standard deduction or your itemized deductions. Tips for figuring your tax liability.
Married Filing Separately Status on Tax Returns - Tax Planning
Additionally, MFS taxpayers must both claim the standard deduction or must both itemize their deductions. In other words, one MFS taxpayer cannot claim the ...
Deciding Between Itemizing and Standard Deduction
When it comes to reducing your tax burden, itemizing deductions may be the way to go. The standard deduction is certainly easier, and might be a better option if ...
Itemized Deductions for Form 1040 Schedule A - Tax Planning
Itemized deductions refers to a group of tax deductions found on Form 1040 Schedule A. People can claim either the standard deduction or choose to itemize ...
Standard Mileage Deduction - Business Mileage Deduction
Discusses benefits of actual expenses vs. standard mileage deduction.
Adjustments to Income - Federal Tax Deductions - Tax Planning
For one thing, they directly reduce a person's adjusted gross income. You can also take adjustments to income in addition to your standard deduction or itemized ...
Additional Standard Deduction for Real Estate Property Taxes
The Housing Assistance Tax Act allows homeowners to claim an additional standard deduction for property tax if the taxpayer does not itemize. The additional ...
Quick Tax Facts: Important Tax Figures for 2007 - Tax Planning
Overview of key tax figures for 2007. Includes standard deduction, personal exemption, phaseout ranges for itemized deductions, and retirement plan ...
Claiming Head of Household Filing Status - Tax Planning - About.com
Taxpayers claiming the Head of Household filing status benefit from a higher standard deduction and lower tax rates than single taxpayers.