Deductions

Reduce your taxable income by claiming the available deductions to you. Updates to the itemized deduction thresholds, amounts, eligibility requirements; and standard deduction increase.

  • Photo of Itemizing Deductions in 2021

    Itemizing Deductions in 2021

    Itemizing deductions in 2021 can reduce taxable income more than the standard deduction. We suggest itemizing deductions for 2020 taxes…

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  • Photo of Standard Deduction 2021

    Standard Deduction 2021

    Every year, about 9 out of 10 taxpayers claim the standard deduction on their federal income tax return. Since 2018,…

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  • Photo of Standard Deduction 2020

    Standard Deduction 2020

    The standard deduction is the primary route for American taxpayers to reduce their taxable income. Only those who don’t itemize…

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