In our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter Editor, answers readers' questions on tax deductions and ...

Work through the instructions given on Schedule A to accurately calculate your itemized deductions. As an alternative, you ...

The Form 1040 is an official document used by U.S. taxpayers to file their annual income tax returns. It includes sections ...

Itemized deductions are claimed on a Schedule A form and are broken down into five main categories: Medical and dental expenses. Taxes you paid. Interest you paid. Gifts to charity. Casualty and ...

"Generally, a standard deduction is the best choice for taxpayers whose total itemized deductions do not add up to more than ...

But many taxpayers miss out on this valuable tax break because they don't know which expenses are eligible or how to claim them. Here's what you need to know to deduct eligible medical costs from your ...

Self-employed workers can claim their mileage deduction on their Schedule C form, rather than the Schedule A form for itemized deductions. Mileage for self-employed workers isn't subject to any ...

You can claim the standard deduction even if you have no expenses that qualify as itemized deductions. You don’t need to keep records of expenses. It’s simple, and you don’t need to educate ...

As a part of their Schedule C, self-employed workers can deduct union ... To claim a deduction on your state return, the steps are typically as follows: Itemized deductions allow you to take ...

But for some taxpayers, it is still worth exploring the potential of itemized deductions, as overlooking it in favor of simplicity could "leave a significant amount of money on the table for Uncle ...