Real estate blog entries tagged with standard deduction by Brentwood Insurance ~ Peter Tuttle ~ Cool Springs Insurance ~ TuttleCPA.com (Peter Tuttle, CPA, CLCS)

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Home : Blogs : Brentwood Insurance ~ Peter Tuttle ~ Cool Springs Insurance ~ TuttleCPA.com : Brentwood Insurance ~ Peter Tuttle ~ Cool Springs Insurance ~ TuttleCPA.com's Blog : Tag "standard deduction"

standard deduction: Itemizing Tax Deductions - Should You or Shouldn't You? - 03/21/08 03:20 AM

Itemizing Tax Deductions - Should You or Shouldn't You?
Each year, taxpayers everywhere ask whether it's better to itemize their deductions or opt for the standard deduction. What's the difference and how does it affect your bottom line?
Some taxpayers must itemize, even if their deductions are less than the standard deduction. Those taxpayers include nonresident aliens, dual-status aliens, and individuals who file returns for periods of less than 12 months. Additionally, when a married couple files separate returns and one spouse itemizes deductions, the other spouse must itemize as well.
In general, itemizing your deductions saves you more tax dollars … (2 comments)

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