Controlling timing of your itemized deductions
Posted by admin on Nov 4, 2014 in Blog | 0 commentsSome itemized deductions, like medical expenses deductions (or miscellaneous itemized deductions) can only be deductible to the extent they exceed 10% (or 2%) of taxpayers’ adjusted gross income (AGI). Taxpayers can either make deductible expenditure in years which they have lower AGI, or combine the deductible expenses in one year to get more tax deduction.