In our latest Ask the Editor round-up, Joy Taylor, The Kiplinger Tax Letter Editor, answers four questions on deductions, tax proposals and IRAs.

You may consider itemizing your deductions if your individual expenses add up to more than the standard deduction. Common itemized deductions include medical expenses, charitable contributions and ...

Before 2018, the tax break — including state and local income and property taxes — was unlimited for filers who itemized ...

Taxpayers can use the standard deduction or take itemized deductions on their tax returns, but they can’t do both. The standard deduction is a set dollar amount that reduces a taxpayer’s ...

No matter how much or little you earn in a given year, you can claim a standard deduction. The standard deduction is standard for a reason. Most people won’t find more than $15,000 worth of ...

Standard deduction vs. itemized deductions What is the standard deduction? When taking the standard deduction is better Standard deduction: Pros and cons What are itemized deductions? When ...

If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out over $500,000.

As with the standard deduction, itemizing reduces your taxable income. You may have a wide range of expenses you can claim as itemized deductions, including out-of-pocket medical expenses ...

Standard deduction vs. itemized deductions The standard deduction is a flat amount that taxpayers deduct from their AGI. How much you can get depends on your filing status. Here are the amounts ...

As Maryland faces what may be unprecedented fiscal deficits, Governor Moore proposes eliminating itemized tax deductions while claiming he will lower taxes for middle class taxpayers (“Gov.