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2. Should you itemize or take a standard deduction on your tax ...

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   April 4, 2024 at 9:56 AM. NEW YORK (AP) — When tackling your taxes, ... Standard deduction versus itemizing. For the vast majority of tax filers, the standard deduction is the way to go.

3. The Best Tax Deductions and Tax Breaks for 2024-2025 - AOL

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   You can claim certain taxes as itemized deductions. ... The standard deduction amounts for tax year 2024 are as follows: Single filers: $14,600. Married filing separately: $14,600.

4. If Trump Reinstates Tax Cuts, Here’s How Much You Could Save

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   In 2024, the standard deduction is $14,600 for single filers and married persons filing separately. ... “You’re going to have individuals now having to re-examine whether or not they’re ...

5. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   Under United States tax law, the standard deduction is a dollar amount that non-itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [1] but usually choose whichever results in the lesser amount of tax ...

6. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   Under United States tax law, itemized deductions are eligible expenses that individual taxpayers can claim on federal income tax returns and which decrease their taxable income, and are claimable in place of a standard deduction, if available. Most taxpayers are allowed a choice between itemized deductions and the standard deduction.

7. Mortgage Interest Deduction: Limits and How It Works - AOL

   www.aol.com/finance/mortgage-interest-deduction...

   For tax year 2024, the standard deduction is $14,600 for single filers and married individuals filing separately, $21,900 for heads of household, and $29,200 for married couples filing jointly.

8. Are There Hidden Tax Benefits You’re Missing This Year? - AOL

   www.aol.com/hidden-tax-benefits-missing...

   “The 2024 contribution limit for 401(k) plans is $23,000, with an additional $7,500 catch-up contribution for those 50+.” ... changes to itemized deductions and increasing the standard ...

9. The mortgage interest deduction could save you ... - AOL

   www.aol.com/finance/mortgage-interest-deduction...

   Standard vs. itemized deductions: What’s the difference? ... For tax year 2024—return you will file in 2025—the standard deduction amounts are: Head of household: $21,900.