References in periodicals archive ?
For more information on itemizing and to speak with a tax preparer, please visit http://www.
If Tom and Teresa were to use a standard deduction instead of itemizing, they would be subject to AMT because the deduction would exceed the remaining adjustments and preferences.
A nationwide Gallup Poll commissioned by GII reported lower numbers with 50 percent of respondents itemizing deductions and 11 percent deducting $500 or more.
He also said the calculators assume a homeowner is itemizing his taxes to write off the mortgage interest and property taxes, when in reality only half of taxpayers actually do itemize.
Most people foolishly leave their tax planning until April and, unfortunately, are often forced to settle for the standard deduction instead of itemizing.