The standard deduction reduces the amount of your income that is federally taxed. The amount of the standard deduction changes annually to adjust for inflation. You can choose to take the standard ...

The IRS recently announced the 2025 tax brackets and tax tables. Given many people are interested in the changes, we wanted to include the latest tax bracket updates as quickly as possible. If you're ...

According to the Tax Policy Center, the 70% of tax filers who claimed the standard deduction in 2017 jumped to about 90% of tax filers in tax year 2020. Here are some of the benefits of claiming ...

Also, the IRS has announced the 2025 standard deduction. For more information, see The New Standard Deduction is Here.