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re: Tax preparation for relatively simple finances
Posted on 1/22/15 at 1:44 pm to opiet
Posted on 1/22/15 at 1:44 pm to opiet
quote:
Most people in your situation (owning a home) would itemize their deductions. Mortgage int + prop taxes + car tags + charitable contributions + State income taxes > standard deduction.
Meh - I paid down my mortgage balance and I'm below the standard deduction now, myself. When I had 3 kids at home, a slew of medical expenses and a high mortgage balance, it made sense. They moved student loan interest to an above the line deduction and that took me out of itemizing (I think).
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