Whether you choose to complete your tax return this year by hand, the old-fashioned way, with a multimedia interactive software package online, or by enlisting the help of a licensed tax professional, you need to be aware of the tax deductions and credits that are available to you.
Most taxpayers do claim their exemptions, and according [...]

You need to know about your tax breaks to know your tax deductions. There are many deductions which often taxpayers don’t remember. Only after few weeks of working out their taxes, they realize how they have missed out on the possibility of a deduction. So to ensure that next time you do not forget [...]

Burden for preparers
Tax preparers may start being tougher in asking you to prove your entitlement to certain deductions. This is because a law was recently passed that requires these professionals to help weed out tax dodgers. This may result in increased paperwork and greater fees to some taxpayers since a longer amount of time will [...]

What’s the difference between claiming a standard deduction vs average itemized tax deductions?  Can those being single itemize versus only the married itemizing?
Deductions are expenses the IRS allows you to subtract from your taxable income, lowering your overall tax bill. There are two ways to file deductions – using the standard deduction, and “itemizing.”
Standard Deductions
Every [...]