Best Tax Deductions
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 25 February 2026
⏱️ 13 minutes
🧾️ Download transcript
Summary
Discover some of the best tax deductions.
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Be Wealthy & Smart,™ is a personal finance show with self-made millionaire Linda P. Jones, America's Wealth Mentor.™ Learn simple steps that make a big difference to your financial freedom.
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Transcript
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| 0:00.0 | Be Wealthy and Smart, episode 1629. |
| 0:03.7 | I'm going to live the rich life, full than best life, yes life, so if you all know what I mean, |
| 0:12.4 | put your hands up and declare with me, yeah, I'm full of bed, ha, ha, ha, ha, ha. |
| 0:18.0 | I'm going to live a good life. |
| 0:21.9 | Beautiful and glorious life. |
| 0:25.2 | Step into a world of wealth and financial freedom without budgets, boredom, or bosses on Be Wealthy and Smart. |
| 0:34.2 | And now, here's your host, Linda P. Jones. |
| 0:40.7 | Welcome to Be Wealthy and Smart. I'm Linda P. Jones, |
| 0:45.6 | America's wealth mentor, empowering women and men worldwide to financial freedom. On today's show, |
| 0:51.8 | we're going to talk about the best tax deductions to file on your 2025 taxes in 26. |
| 0:58.4 | This comes to us from Rachel Christian on Yahoo Finance. Of course, a tax deduction lowers the amount of your income the government actually taxes, and the lower your taxable |
| 1:02.5 | income, the smaller your tax bill. A lower adjusted gross income or AGI can also unlock other |
| 1:08.6 | tax perks, including credits, phaseouts, and lower effective tax rates. |
| 1:13.3 | The best tax deductions really depend on how you file. Each year you get to choose between the |
| 1:17.8 | standard deduction or itemizing. That decision heavily influences which deductions are available to |
| 1:23.6 | you. About 91% of all U.S. taxpayers took the standard deduction in 2023, according to the |
| 1:30.6 | Tax Policy Center. That makes it the most widely used tax break in the country, and it's easy to |
| 1:35.6 | understand why. Craig Toberman, a CPA and certified financial planner at Toberman-Becker |
| 1:40.3 | Wealth in St. Louis, said, since it nearly doubled in 2018 and now rises with inflation, |
| 1:46.7 | the standard deduction quietly became a middle-class tax cut. This means millions no longer need |
| 1:52.2 | to itemize to get meaningful tax relief. Uncle Sam is automatically shaving off $15,750 to $31,500 |
| 2:00.7 | from your taxable income without you lifting a finger. You don't need a box of |
... |
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