Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Ebony Howard is a certified public accountant and a QuickBooks ProAdvisor tax expert. She ...

What Does Tax-Deductible Mean? The U.S. tax system can be a bit convoluted, and if you’re trying to learn every single aspect about filing taxes, you’ll find yourself deep in a rabbit hole. The good ...

The IRS allows you to take a charitable deduction on your tax return for qualified donations of cash or property if you itemize your deductions, but the rules can be confusing. For example, how much ...

When you file your taxes, itemizing deductions can help you reduce your taxable income. Some people are eligible to deduct their sales tax. If you choose to itemize deductions, you’ll have the option ...

For a long time, the standard deduction has been a straightforward option for many U.S. taxpayers. It allows most filers to reduce their taxable income without needing to itemize deductions. The ...