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2. 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.

3. What Is the Standard Deduction Amount for 2022-2023 and ... - AOL

   www.aol.com/difference-between-standard...

   For filers using Form 1040-SR, U.S. Tax Return for Seniors, the standard deduction is on page 4. Itemized Deductions. If you itemize deductions, you lower your taxable income from a list of ...

4. How To Fill Out a W-4 Form for 2024 - AOL

   www.aol.com/fill-w-4-form-2024-154830589.html

   Line 1: Put the estimated amount of your itemized deductions on line 1. Common tax deductions include: Medical expenses that are more than 7.5% of your income. State and local income taxes up to ...

5. The Pros and Cons of Standard vs. Itemized Tax Deductions - AOL

   www.aol.com/news/pros-cons-standard-vs-itemized...

   It shields a portion of your earnings from income tax. While the standard deduction is the government's built-in subtraction that you can take while preparing your taxes, itemizing is composed of ...

6. State and local tax deduction - Wikipedia

   en.wikipedia.org/wiki/State_and_local_tax_deduction

   t. e. The United States federal state and local tax (SALT) deduction is an itemized deduction that allows taxpayers to deduct certain taxes paid to state and local governments from their adjusted gross income. The SALT deduction intent is to avoid double taxation by allowing taxpayers to deduct state and local taxes from their federal income.

7. 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 ...