Tag Archives: itemized deductions

Itemized or Standard Deduction?

Posted on February 20, 2016 by Lisa W. Hull

The IRS statistics show that most taxpayers use the standard deduction. However, you may be able to reduce your tax bill if you itemize on Schedule A. What expenses are deductible on Schedule A? I think most people are familiar … Continue reading →

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Individual Tax Provisions in Obama’s 2015 Budget

Posted on March 15, 2014 by Lisa W. Hull

President Obama released his FY 2015 budget proposals on March 4.  I’m not one to analyze the benefit or cost behind proposed tax law, or argue conservative or liberal viewpoints ( I am conservative), but I am interested in what … Continue reading →

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Filing Status: Head of Household and Single

Posted on February 1, 2014 by Lisa W. Hull

Head of Household Tax rates for head of household filing status are not as good as married filing jointly but better than single. The standard deduction available for head of household in 2013 is $8,950 and in 2014 is $9,100. … Continue reading →

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Medical Expenses

Posted on November 21, 2013 by Lisa W. Hull

Taxpayers who itemize their deductions are able to deduct certain medical expenses, to the extent they exceed 10% of their adjusted gross income.  Medical expenses are deductible if they are paid for the taxpayer, the taxpayer’s spouse or the taxpayer’s … Continue reading →

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