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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. Tax Cuts and Jobs Act - Wikipedia

    en.wikipedia.org/wiki/Tax_Cuts_and_Jobs_Act

    The Act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018, [2] Pub. L. Tooltip Public Law (United States) 115–97 (text), is a congressional revenue act of the United States originally introduced in Congress as the Tax Cuts and Jobs Act (TCJA), [3] [4] that amended the Internal Revenue Code of 1986.

  4. Should you itemize or take a standard deduction on your tax ...

    www.aol.com/news/itemize-standard-deduction-tax...

    For the vast majority of tax filers, the standard deduction is the way to go. When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or itemize ...

  5. 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.

  6. Mortgage interest deduction: What it is and what qualifies - AOL

    www.aol.com/finance/mortgage-interest-deduction...

    For mortgages taken out since Dec. 16, 2017, you can deduct only the interest on the first $750,000 if you are single or married filing jointly ($375,000 if you are married filing separately ...

  7. 5 tax changes for 2017 you'll want to know about - AOL

    www.aol.com/finance/2016-11-27-5-tax-changes-for...

    Individual filers and heads of household will receive a standard deduction of $6,350 and $9,350, respectively, in 2017, up $50 from 2016. Couples filing jointly get a $100 year-over-year lift to ...

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