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

The 549-page text calls for making many provisions of the Tax Cuts and Jobs Act permanent. The committee says that the SALT ...

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

One tax expert says a proposed $4,000 bonus deduction is a 'far cry from the savings' that many would see with no taxes on ...

The IRS allows you to claim deductions that reduce the amount of tax you owe. Those deductions either are itemized deductions or standard — a flat rate.

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.

The answer to this question comes down to the math, too — generally, you will want to "take the standard deduction when it's larger than your itemized deductions," said Ramsey Solutions.

If one spouse itemizes and the other does not, the non-itemizing spouse’s standard deduction amount will be zero, even if each spouse is age 65 or older or blind. Itemized deductions are claimed ...

As the April 15 tax deadline approaches, here’s what you need to know about claiming deductions on your tax return. The standard deduction is a flat-dollar reduction to your adjusted gross ...

“If your itemized deductions are going to exceed the standard deduction you definitely want to itemize.”For tax year 2024, the standard deduction is:$14,600 for single filers$21,900 for heads ...

“If your itemized deductions are going to exceed the standard deduction you definitely want to itemize.”For tax year 2024, the standard deduction is:$14,600 for single filers$21,900 for heads ...