We all have the same capabilities to itemize our taxes if we so choose.
The issue is that, for many, let’s face it, taxes can be frightening. It
is easy to think that itemizing deductions would be A, difficult, and
B, a red flag. In reality, one in every four taxpayers would benefit by
itemizing deductions, keeping more of their hard-earned money for their
We understand that the pressure and uncertainty that many people feel about paying taxes may keep them from exploring the potential for advantageous deductions, such as charitable donations, property taxes, and mortgage interest. At Whyte and Associates tax and accounting service, we help residents of Rancho Cucamonga and surrounding areas make sense of their taxes so that they may experience better financial wellbeing.
In order to determine if the standard deduction is the best choice for you, the first step is to determine if your allowable expenses for the year exceed the standard deduction allowed in your filing status. For 2014 returns, deductions are:
Individuals over the age of 65 and those who are blind have a
different set of numbers for standard deductions based on filing status
and other factors. If you fall into one of these categories, your tax
expert at Whyte and Associates can provide you with assistance to ensure
you retain as much of your personal money as possible.
Common deductions that can make a difference
Deducting individual, specific expenses does not have to be tricky. Your tax specialist in Rancho Cucamonga can take the stress out of itemized deductions at an affordable cost. Call Whyte and Associates at (909) 575-0080.