Standard vs Itemized Deductions: Which Is Right for You?
January 9, 2026
A tax deduction reduces your taxable income. For example, if your income is $50,000 and you have $5,000 in deductions, your taxable income becomes $45,000. The benefit of a deduction depends on your marginal tax bracket—the rate applied ... READ MORE
Category: Money Matters, Work & LifeTags: Deduction, Federal Income Tax, Itemize, Itemized Deduction, Standard Deduction, Tax Deduction
