When filing your taxes, how do you choose which deduction to take? The standard deduction or itemized deductions? TurboTax software solves these questions for you by choosing the option that gives you the biggest tax refund. Find out more about standard deductions vs. itemized deductions here. Full story
This year, those who itemize their deductions have a choice to deduct, either the amount of state income tax paid or state and local general sales taxes paid. It’s either/or, you cannot take both. Find out more here. Full story
You can deduct your medical expenses, your spouse’s expenses (provided you’re filing jointly), or your dependent. You have to itemize your deductions and the expenses must be more the 7.5% of your AGI. Find out what expenses qualify. Full story
When doing your 2010 tax return are you taking the standard deduction or itemizing your tax return? Learn which route might work best for you. Full story
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