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Itemized deductions Vs. Standard deductions
| Posted on December 17, 2011 at 10:45 AM |
 Individual tax filers, did you know that when you itemize by saving all your receipts and medical bills and if those expenses do not exceed your 2011 standard IRS tax deduction (Single $5,800, Head of Household $8,500 or Married $11,600) then it will be in your best interest to actually take the standard deduction as opposed to taking the itemized deduction? Let Professional Freedom Tax Service tell you more about it, call us today! Tax Service Blog |
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8:11 AM on February 27, 2013
Thanks for sharing this useful information. These 2 aspects should always be kept in mind so that you do not face problems later on.
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7:15 AM on August 2, 2013
There are limits and restrictions when you file itemized deductions. The first type of limit to an itemized deduction is called a floor.Thanks for the post..
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