Standard Or Itemized Tax Deduction?
b'"With tax withholdings, typically spread across pay periods to avoid a large lump sum in April. Under withholding can trigger penalties. Self-employer or contractors may not have taxes withheld. Be sure to account for all income sources. Deductions reduce the amount of income subject to tax. For some filers, itemizing deductions may make sense. Itemized deductions can include mortgage interest, property taxes, state income taxes, and student loan interest," says Carrie Schwab-Pomerantz.'