Introduction Many taxpayers miss out on valuable tax deductions that can significantly lower their taxable income and increase their refund. Under various sections of the Internal Revenue Code (IRC),...
Introduction When filing your tax return, you must choose between the standard deduction and itemized deductions to reduce your taxable income. Under IRC § 63, taxpayers can either: Take...
Introduction If you had high medical expenses in 2025, you might be able to deduct them on your tax return and reduce your taxable income. The IRS allows you...