Your current location:HOME >business >Should you itemize or take a standard deduction on your tax return? Here's what to know 正文
TIME:2024-05-22 00:28:20 Source: Internet compilationEdit:business
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.
Online reading or offline clubs? Young Chinese embrace both in digital era2024-05-22 00:08
WWE star Big E reveals he may NEVER wrestle again after undergoing new neck scans, with 382024-05-21 23:45
'Taylor Swift must be getting sick of this': Travis Kelce is SLAMMED over 'cringe' beer2024-05-21 23:36
China's first self2024-05-21 23:32
Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue2024-05-21 23:17
China's new2024-05-21 23:13
Chase Elliott ends 422024-05-21 22:51
China sends 9 satellites from sea2024-05-21 22:31
Verona confirms Serie A status for another year after beating Salernitana2024-05-21 21:51
New finds in China's Guizhou indicate prehistoric human activity over 55,000 years ago2024-05-21 21:48
Who is Jacob Zuma, the former South African president disqualified from next week's election?2024-05-21 23:55
Even the boss is worried! Hundreds of chief executives fear AI could steal their jobs too2024-05-21 23:35
U.S. moon lander Peregrine completes re2024-05-21 23:32
Netflix fans go wild over 'must watch' new drama and say they 'need' a second season 'right now'2024-05-21 23:19
Brazil replaces injured goalkeeper Ederson in Copa America squad2024-05-21 23:02
Xi highlights advancement in education2024-05-21 22:48
PICTURED: Mother2024-05-21 22:33
Internet drama about lost artifacts touches Chinese netizens2024-05-21 22:30
Medics remove 150 MAGGOTS from a woman's mouth after dental procedure left her with rotting tissue2024-05-21 22:25
Multiple glass materials discovered in Chang'e2024-05-21 22:03