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March 19, 2013
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Itemizing vs. standard dedutions: How to chose the right form

When you file a tax return, you usually have a choice to make: whether to itemize deductions or take the standard deduction. You should compare both methods and use the one that gives you the greater tax benefit. The IRS offers these six facts to help you choose. 1. Figure your itemized deductions. Add up the cost of items you paid for during the year that you might be able to deduct. Expenses could include home mortgage interest, state income taxes or sales taxes (but not both), real estate and personal property taxes, and gifts to charities. They may also …

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The Nevada Appeal Updated Mar 19, 2013 07:42PM Published Mar 21, 2013 01:46PM Copyright 2013 The Nevada Appeal. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.