COVID Resources

Itemized Deductions

Itemized Deductions from A to Z, Part 3: Deductions and Taxes

For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website.   After medical and dental expenses, taxes are the next section on Schedule A. Generally, state and local taxes, real estate taxes, personal property taxes and foreign taxes (real property and income taxes)…
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Itemized Deductions from A to Z, Part 2: Deductions and Medical Expenses

For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website.   When evaluating the tax benefit of medical expense payments, it is important to know that you must incur significant nondeductible medical expenses before the first dollar becomes deductible. For taxpayers under age…
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Itemized Deductions from A to Z, Part 1: The Basics

For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website.   All qualifying taxpayers are allowed a standard deduction regardless of actual deductions. For those under 65 years of age, the basic standard deduction for 2014 is $12,400 if married and filing jointly…
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Itemized Deductions: From Common and Easy to Unusual and Tricky

For additional information regarding 2014 tax planning, you can download our 2014 Tax Planning Guide from the Resources tab on our website.   For most taxpayers, questions about what is deductible far outnumber the questions about what is taxable. Why? Most income is reported to you and the IRS shortly after year-end on standard documents…
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