Results for tag: "Itemized Deduction"

The Itemized Deduction market is a subset of the tax industry that allows taxpayers to deduct certain expenses from their taxable income. This includes expenses such as medical costs, charitable donations, and mortgage interest. Itemized deductions are beneficial for taxpayers who have high levels of expenses in these categories, as they can reduce their taxable income and thus their tax liability. The Itemized Deduction market is highly competitive, with many companies offering services to help taxpayers maximize their deductions. These services range from tax preparation software to professional tax advisors. Companies such as TurboTax, H&R Block, and TaxAct are some of the most popular providers of tax preparation software, while companies such as Ernst & Young, Deloitte, and KPMG are some of the leading professional tax advisors. Show Less Read more