03/02/2017
What's the difference between STANDARD DEDUCTION and ITEMIZED DEDUCTION??
Funny that you ask! It's no surprise, being that 2/3rd of the American population takes the standard deduction.
Typically those with home mortgages, large medical expenses, or dedicated time to charitable organizations will benefit from filing a schedule A (Also known as itemizing deductions).
No need to worry! Even if you don't have any of these, the government will give you a standard $6,300 deduction for singles or that x2 for married couples!
Take a look at this H&R block article for a deeper look
BUT CALL TODAY for personal consulation on where you stand
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Learn more about itemized deductions versus standard deductions and get tax answers at H&R Block.