Filing Taxes: Will Itemizing Your Deductions Save You Money?
Filed under: Taxes, Income Tax, Tax Deductions, Property Tax, Tax Refunds
Though we all groan about having to pay taxes, the government is nice enough not to tax us on everything we earn.
There are two big buckets of deductions the government gives us: The first are called “above the line,” and the second are called “below the line,” which we’ll cover here. (The “line” these deductions refer to is a literal line on your 1040 form for the Adjusted Gross Income.)
Below the Line Deductions
You can take your below the line deductions in one of two ways: Either you can…
Filing Taxes: Will Itemizing Your Deductions Save You Money? originally appeared on DailyFinance.com on 2013-02-21T11:00:00Z.
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