Your current location:HOME >opinions >Should you itemize or take a standard deduction on your tax return? Here's what to know 正文
TIME:2024-05-22 02:37:14 Source: Internet compilationEdit:opinions
NEW YORK (AP) — When tackling your taxes, it can sometimes be hard to figure out whether to opt for
NEW YORK (AP) — When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or itemize.
According to tax pros, itemizing generally only makes sense if your itemized deductions, taken together, add up to more than the current standard deduction of $13,850 for a single filer and $27,700 for a married couple.
Here’s what you should know:
For the vast majority of tax filers, the standard deduction is the way to go.
“Generally, taxpayers whose total itemized deductions are less than the standard deduction (based on their filing status) will benefit from taking the standard deduction. However, if the taxpayer’s total itemized deductions are greater than their standard deduction, they must itemize,” says Kathy Pickering, chief tax officer at H&R Block.
There are a few exceptions, though, and some things to consider itemizing that people sometimes forget.
Four people killed in a house explosion in southwestern Missouri2024-05-22 02:31
Simplified payments to facilitate foreign visitors2024-05-22 02:29
U.S. blaming China for its shipbuilding problems lacks factual basis: MOFCOM2024-05-22 02:28
Dubai commodities center attracts more Chinese firms2024-05-22 02:25
Kate Hudson hits the stage to debut songs from her new album Glorious at star2024-05-22 02:08
Local Spring festival Sechselauten held in Zurich, Switzerland2024-05-22 02:07
CNOOC's major deepwater jacket platform completed2024-05-22 01:42
Xi Focus: Key Takeaways from Xi's Meetings with Foreign Guests2024-05-22 01:19
Dodgers acquire pitcher Yohan Ramírez from Mets for cash2024-05-22 00:44
Apple to expand in China with new research labs2024-05-22 00:27
Jodie Turner2024-05-22 01:50
Xinjiang leads growth in express deliveries2024-05-22 01:40
Xi Meets Vietnamese President2024-05-22 01:20
China's auto exports cruising in top gear2024-05-22 01:20
How Robert F. Kennedy Jr. could make the first debate stage2024-05-22 01:06
Remains of Li Keqiang Cremated in Beijing2024-05-22 01:01
Kunqu operas performed in Japan's Waseda University2024-05-22 00:51
10 Years on, BRI Pioneers High2024-05-22 00:48
Celebrity tequila brands, like George Clooney2024-05-22 00:44
Chinese airlines increasing flights to U.S.2024-05-22 00:42