Itemized Deductions vs. Above-the-Line Deductions

Income tax deductions are items that reduce your taxable income. But, there’s more to the story. It’s important to be aware that not all deductions are created equal. For instance, some deductions can be taken “above the line” on your tax return. Above-the-line deductions are subtracted from your income before the adjusted gross income (AGI) … Continue reading Itemized Deductions vs. Above-the-Line Deductions