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Tag Archives: standard deduction
Itemized or Standard Deduction?
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
Posted in Deductible Expenses, Uncategorized
Tagged filing status, IRS, itemized deductions, standard deduction
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Filing Status: Married Filing Separately
Married individuals may choose to file separately rather than filing one joint return. Married filing separately is the least favorable filing status. The standard deduction for this status in 2013 is $6,100 and $6,200 in 2014. Not only does the … Continue reading
Lisa the Tax Lady 