Standard vs. Itemized Deduction
Compare your itemized deductions to the standard deduction to see which saves you more.
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Itemizable Deductions
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Quick Answer
Is this updated for current tax laws?
We aim to use the latest tax brackets, but always consult a CPA for official filings.
Helpful Tips
- •Save your calculations by bookmarking this page with your inputs in the URL.
- •Try different scenarios to understand how changes affect your results.
- •Share this calculator with friends or family who might find it useful.
- •Use the results as a starting point for conversations with financial advisors.
- •Bookmark this page and revisit quarterly to track your progress toward goals.
How to Use the Tax Deduction Calculator
Estimate tax liabilities and potential deductions.
Step-by-Step Instructions
1
Enter your gross income and filing status.
2
Input standard or itemized deductions.
3
Review your estimated effective tax rate.
When to Use This Calculator
When preparing taxes to maximize deductions and reduce tax liability.
tax deductions
itemized deductions
tax savings
IRS
Who Benefits Most
- •Taxpayers
- •Tax preparers
- •Business owners
8-12 minutes
Intermediate
Frequently Asked Questions
Common questions about the Tax Deduction Calculator
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