Married Couples Should Rethink Plans To Itemize - 2004-02-15
Married couples used to itemizing tax deductions might want to have a second look at their 2003 tax returns. A higher standard deduction might mean it's more beneficial to leave tedious itemizing behind.
Tax laws allow taxpayers to lower their taxable income by taking a deduction, either a standard amount or the sum of an itemized list. Deductible items such as mortgage interest, real estate taxes, state or local income taxes and charitable contributions can add up to more than the standard deduction.
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