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.

Financial advisor fees are not tax-deductible now, but there are still tax benefits from working with an advisor.

A bigger standard deduction, changes in the itemizing rules and new temporary deductions all complicate the decision. Here’s how to choose the option that’s best for you. When it comes to federal ...

For a long time, the standard deduction has been a straightforward option for many U.S. taxpayers. It allows most filers to reduce their taxable income without needing to itemize deductions. The ...

Can you claim the home office tax deduction this year?