Page 28 - ur local cpa
P. 28
- One of the first decisions
taxpayers must make when
completing a tax return is
whether to take the standard
deduction or itemize their
deductions.
- There are several factors that can
influence a taxpayer's choice,
including changes to their tax
situation, any changes to the
standard deduction amount and
Tax Basics
recent tax law changes.
- Generally, most taxpayers use the
option that gives them the lowest
overall tax.
- As taxpayers begin to think about
filing their tax return, here are
some things they should know
about standard and itemized
deductions.
