If you are preparing your taxes this year, one of the questions you should ask is: should I itemize my deductions or use the standard deduction? This tip from the IRS discusses both methods and how to choose:

http://content.govdelivery.com/accounts/USIRS/bulletins/a9a426?reqfrom=share

Now if you use a preparer like me, our software will automatically let us know which is the best method on each return (results in the least tax), since sometimes the bigger deduction doesn’t alway result in less tax (if there is alternative minimum tax, for instance). In any case, calculate it both ways to be sure.

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