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...
As the new year unfolds, it’s time to dive into the world of tax deductions for 2023 with the IRS! Understanding individual tax deductions and maximizing your benefits is...