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2. Standard deduction - Wikipedia

   en.wikipedia.org/wiki/Standard_deduction

   Under United States tax law, the standard deduction is a dollar amount that non- itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied. Taxpayers may choose either itemized deductions or the standard deduction, [1] but usually choose whichever results in the lesser amount of tax ...

3. Itemized deduction - Wikipedia

   en.wikipedia.org/wiki/Itemized_deduction

   t. e. Under United States tax law, itemized deductions are eligible expenses that individual taxpayers can claim on federal income tax returns and which decrease their taxable income, and are claimable in place of a standard deduction, if available. Most taxpayers are allowed a choice between itemized deductions and the standard deduction.

4. Tax deduction - Wikipedia

   en.wikipedia.org/wiki/Tax_deduction

   Tax deduction. A tax deduction or benefit is an amount deducted from taxable income, usually based on expenses such as those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. The difference between deductions, exemptions, and credits is that deductions and exemptions both ...

5. Tax Deductions Explained (and Common Ones You Could Claim) - AOL

   www.aol.com/tax-deductions-explained-common-ones...

   The 2017 tax reform put new limits on property tax deductions. Beginning in 2018, you can deduct state and local taxes up to $10,000 or $5,000 if you’re married filing separately.

6. 10 things you may not realise are tax deductions - AOL

   www.aol.com/finance/10-things-didn-t-know...

   As each half amounts to 7.65%, self-employed workers must contribute the entire 15.3% themselves. However, you are allowed to deduct the 7.65% employer portion of Social Security taxes, which can ...

7. IRS tax forms - Wikipedia

   en.wikipedia.org/wiki/IRS_tax_forms

   Main article: Form 1040. As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for ...