Calvin Johnson, a tax professor at the University of Texas, said that only those in the top third of wage earners even itemized their deductions, meaning that two-thirds of taxpayers weren't eligible for the break.
Even if you itemize your deductions and elect to deduct your state and local income taxes, you can still deduct your vehicle's sales taxes.
For some of them, you won't even have to itemize! 1. Charitable Donations - Donations are deductible as long as they are given to a qualified charitable organization.
His bill would even require lawyers to itemize their income and clients — an idea that the Assembly speaker, Sheldon Silver, an attorney who profits handsomely from New York's lack of transparency, is expected to fight ferociously.
The streaming media company is known for giving its employees "freedom and responsibility," and also offers workers unlimited vacation time and doesn't even require them to itemize expenses.
For 2009 only Congress lets you deduct your sales, excise and other taxes even if you are subject to the AMT and even if you do not itemize, but these benefits are limited to vehicles costing less than $49,500 and the tax break is phased out for those making more than $125,000 of adjusted gross income ($250,000 for couples who file jointly).
Sometimes they let you itemize the items yourself.
Once opened, I would never even scan the itemized list -- I knew what I had done.
Because the standard deduction has increased, many people will not have enough deductions, even with a mortgage, to itemize deductions.
The so-called above-the-line deduction for qualified higher-education expenses — subtracted from your gross income and taken even if you did not itemize other deductions — expired in 2009.
