The 6 Best Tax Deductions for 2020
"Nothing is certain except for death and taxes," goes the old saying attributed to Benjamin Franklin (but very likely coined earlier). It's hard to argue that death won't eventually come to us all, but while taxes are also hard to avoid, the amount of taxes that you pay is not set in stone. There are lots of ways to shrink your tax bill, such as via credits and deductions.
It's worth noting that the Tax Cuts and Jobs Act of 2017 doubled the standard deduction, which means that many people who previously would have itemized their deductions will no longer find that worthwhile, as the standard deduction will save them more. Still, plenty of itemizers will remain. If you're one of them, here are six of the best deductions for trimming your tax tab. Learn more about them and see how many you can take advantage of come tax time.
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Source Fool.com
