You have options, as it pertains to the Standard and the Itemized Deduction
Yoseph Shomer, CPA
CPA for all your business tax needs | Professional. Patient. Personal.
You have options:
?
There are two types of deductions on your individual tax return: the standard deduction, or the itemized deduction.?
Both work to lower your tax bill.
Which should you utilize?
The deduction that gets you the most savings of course.
Many taxpayers choose the standard deduction.?
The Itemized deduction falls into specific categories and needs to be kept track of, and not everyone is able to utilize it.
Have any questions about it? Just ask!