Itemized deductions: What they are and how they work
An itemized deduction is a qualifying expense that may reduce how much you owe in taxes.
Sean Jackson is a creative copywriter living in Florida. He’s written articles for Realtor.com, CNET and ZDNet. In his spare time, he enjoys hiking, improv, photography and failing miserably at dancing.
An itemized deduction is a qualifying expense that may reduce how much you owe in taxes.
Kentucky uses a flat income tax rate of 5% for single and married filers.
Michigan residents pay an income tax rate of 4.25%.
California has nine tax brackets: 1%, 2%, 4%, 6%, 8%, 9.3%, 10.3%, 11.3% and 12.3%.
Florida is one of only nine states that doesn’t charge an income tax.
If you live in or work for a company in Mississippi, you might have to file a state income tax return.
Maine residents will fall into one of three tax brackets.
Indiana has a flat income tax, meaning you pay the same tax rate regardless of income.