Welcome to RapidTax! Professional Service at Every Step Tax Deductions Taxes are your enemy, but tax deductions are your friends! The following articles discuss tax deductions of every stripe, so you can have a go at reducing your tax liability. Tax Deductions Preparing and paying taxes is a bit like going into battle. The tax code is the battlefield and tax deductions are your weapons. Maximize their use and you can minimize the amount you have to pay the government. If you are looking for older articles, here's are archive of past deduction pages on the site.

Standard Deduction for Federal Taxes

Millions of tax payers use the standard deduction for their Federal Taxes each year. Is this the best choice for them?

Standard Deduction for Federal Taxes

The idea of deductions is to reduce your taxable income. The less taxable income that you have, the less your tax. The IRS knows that everyone is going to have some deductions. There are just too many of them and it is a rare person who does not have quite a few given the complex tax code. The idea of the standard deduction is really to make things a little less complicated and encourage people to take the easy way out of tax return preparation. When you select the standard deduction, you  do not have to itemize your deductions.