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Tax Deduction Wisdom—Should You Itemize?
Learn whether you should simply take the no-questions-asked standard deduction or if itemizing your deductions makes more sense. The standard deduction is always easier, but for one out of every four taxpayers, itemizing pays off with a lower tax bill. Browse this tax deduction overview to avoid paying more taxes than you actually owe. Read more…

What Are Tax Deductions?
The federal tax law allows you to deduct several different personal expenses from your taxable income each year. This can really pay off during tax season because the reduction to taxable income reduces the amount of income that is subject to federal income tax. However, not all expenses you incur will provide tax savings; the Internal Revenue Code is very specific about the types of expenses you can deduct and the taxpayers who may claim them. Read more…

How to Maximize Your Itemized Tax Deductions
Since you can decide every year whether you want to take the standard deduction or itemize your deductions, careful tax planning can help you maximize your deductions in years you itemize. Read more…

Video: What Is the Standard Tax Deduction?
Note: The reference to the standard deduction amount in this video applies only to taxes prepared for 2010. It is included here for reference only. Standard tax deduction give taxpayers the option of claiming a predictable lump-sum deduction instead of adding up their personal and business deductions. Get the pros and cons of standard deductions in this video on tax basics. Read more…

Do I Qualify for Earned Income Credit While on Unemployment?
Receiving unemployment benefits doesn't mean you're automatically ineligible for the Earned Income Credit, but there are other requirements you'll also need to satisfy to claim the EIC. Read more…

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