Itemized deduction

An itemized deduction is an eligible expense that individual taxpayers in the United States can report on their federal income tax returns in order to decrease their taxable income.

Most taxpayers are allowed a choice between the itemized deductions and the standard deduction. After computing their adjusted gross income (AGI), taxpayers can itemize their deductions (from a list of allowable items) and subtract those itemized deductions (and any applicable personal exemption deductions) from their AGI amount to arrive at their taxable income amount. Alternatively, they can elect to subtract the standard deduction for their filing status (and any applicable personal exemption deduction) to arrive at their taxable income. In other words, the taxpayer may generally deduct the total itemized deduction amount, or the standard deduction amount, whichever is greater.

The choice between the standard deduction and itemizing involves a number of factors:

Only a taxpayer eligible for standard deduction can choose it.

This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Itemized_deduction

Latest News for: Itemized bills

Wild Bill Wrangles Offbeat Treasures at Vass Auction House

The Pilot 17 Jul 2018

Wild Bill is very different from Christie’s. Customers at Wild Bill’s auction house in Vass are more likely to leave with offbeat treasures than highly coveted artifacts ... The stakes at Wild Bill’s, however, tend to run small ... “You can get pretty good deals on stuff, sometimes half to 75 percent off,” said Taylor, who ranked a Daisy BB gun, still in the box, as the most interesting item he’s won at a Wild Bill-branded auction....

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Council will mull a smaller, less costly evidence building expansion

Billings Gazette 17 Jul 2018

The Billings City Council must decide in the coming months how the city will finance a scaled-down addition to the evidence building known as PD-2, located at 4845 Midland Road ... Aviation and Transit Director Kevin Ploehn said airport officials are eager to begin meeting with the public to discuss items to include in what could be a $40 million terminal expansion project at Billings Logan International Airport....

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At His Auction House. Wild Bill Wrangles Offbeat Treasures

The Pilot 16 Jul 2018

Wild Bill is very different from Christie’s. Customers at Wild Bill’s auction house in Vass are more likely to leave with offbeat curios than highly coveted artifacts ... A man places a bid during a Wild Bill’s auction ... “You can get pretty good deals on stuff, sometimes half to 75 percent off,” said Taylor, who ranked a Daisy BB gun, still in the box, as the most interesting item he’s won at a Wild Bill-branded auction....

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Bill Miller Bar-B-Q Unveils New Breakfast Sandwich Following Fan Feedback

San Antonio Current 16 Jul 2018

Bill Miller Bar-B-Q has added a new breakfast item to its menu after enough outcry from devoted fans ... item can easily be eaten on-the-go....

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Born in the USA: Having a baby is costly and confusing, even for a health ...

Fremont Tribune 16 Jul 2018

What is unbelievable is the fact that I am still receiving bills for his birth ... lots of paperwork and lots of bills. There are of course all the monthly, then biweekly, and then weekly doctor’s visits with the corresponding bills ... I am still not quite sure how wrong I was, because every time I ask for a detailed bill, new items appear while others miraculously disappear ... Diapers and other baby items, naturally, are also not cheap....

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Army Trades Weekend showcases Revolutionary War era work

The Daily Gazette 16 Jul 2018

Many of the trades created items for soldiers to use during the war, such as buckets and canteens, but other items fit just as well into the lives of civilians. Bill Valosin, a full-time park ranger for the past 20 years, was demonstrating his craft as a tinsmith over the course of the afternoon on Sunday....

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Walmart Ultimate Summer Savings: Get deals on TVs, computers, Smart Home devices, GoPro cameras, and more

TechRadar 16 Jul 2018

As you well may know, today is a big shopping day. Not to be outdone, Walmart has gotten in on the action with what it's billing as its Ultimate Summer Savings, where its offering deals on hundreds of items ranging from electronics to clothing and home goods. And as the store has stressed, one doesn't need a membership to get any of these primo deals ... ....

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How LePage — and his veto pen — remade Maine politics

Bangor Daily News 16 Jul 2018

LePage has vetoed 642 bills, but let’s put that into some context ... According to data compiled by the Maine State Law and Legislative Reference Library, which dates back to 1917, LePage has vetoed 173 more bills than the last 23 governors combined ... Some were line-item vetoes, composed of changes to numbers within a bill but not the bill in its entirety ... Now just about any bill needs two-thirds support to make it into law....

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Eagles fundraiser nets more than $11K for Campbell cancer battle

Big Spring Herald 16 Jul 2018

Members of the Big Spring lodge of the Fraternal Order of Eagles raised money Saturday to help Eagles member Peggy Campbell with medical bills and transportation in her battle against cancer ... We just auctioned off items ......

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Living costs 'higher than expected' for undergraduates

AOL 16 Jul 2018

It suggests that those who choose to study in London could pay out over £15,000 more over a three-year degree in rent and other items such as household bills and food compared to those at a university in Northern Ireland.London - £1,180, £14,200South East - £916, £11,000East of England - £914, £11,000Scotland - £880, £10,600South West - £876, ......

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Braum’s at 50: Oklahoma’s iconic ice cream and dairy brand celebrates milestone

The Oklahoman 16 Jul 2018

“My grandfather, Henry Braum, started it all back in 1933, and my father, Bill Braum, grew the business to what it is today ... Throughout his childhood, Henry's son Bill helped with the family business ... Bill bought the company from his father after college and purchased his first dairy farm in Emporia. In 1967, after growing the chain to 61 stores, Bill sold the Peter Pan stores, but kept the Braum dairy herd and processing plant....

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Editorials from around New England

Olean Times Herald 16 Jul 2018

The vetoed bill would have curtailed the state's long-term commitment by allowing future legislatures to budget less in general aid for Hartford, effectively offsetting the amount going to debt service ... The Rhode Island legislative commission set up to "study" the line-item veto this year proved to be, as we had feared, as phony as a three-dollar bill....

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Two newspapers, one building, and lifetimes of history

The Athens Messenger 16 Jul 2018

Note. This story appears in the Sunday, July 15 newspaper on Page A1 ... Such was life in Athens back in the 1910s ... “THE DAILY MESSENGER,” a mural reads. Above it, another one ... The newspaper gleefully advertised its “Job Printing Department,” which offered to print paper, cards, envelopes, bills, letterheads, receipts, programs, posters, you name it. Customers could order items in “plain print” (what we know as black and white) or in color ... ....

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