Saturday, March 16, 2013

Itemized Deductions

Compose a spreadsheet/list summarizing your deductions (Schedule A) if you are planning on itemizing them. Itemized deductions include: medical expenses, personal property tax, state and local sales taxes, tax preparation fees, custodial fees, financial planning fees, interest on mortgages and home equity loans (bring Form 1098), mortgage insurance premiums, real estate taxes, casualty and theft losses, investment related subscriptions, uniforms, cash and non-cash charitable donations, safe deposit box fees, unreimbursed job related expenses (such as job seeking expenses), cell phone charges, tools, dry cleaning, luggage, PDAs, online service fees, trade journals, travel, meals and entertainment.

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