ACC 307 Federal Taxation

label Accounting
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Recommend at least two (2) tax-planning strategies that taxpayers could implement in order to ensure that the itemized deductions exceed their standard deductions, including those deductions that do not require itemization in order to reduce tax liability. Provide support for your recommendation.

Aug 5th, 2015

Thank you for the opportunity to help you with your question!

strategy 1: in case the education expenses are related to self employment business then write off 100% of the expenses against the business income.

strategy 2  :deductions to be itemized incase total deductions are more than the standard deductions amount.

Please let me know if you need any clarification. I'm always happy to answer your questions.
Aug 5th, 2015

any feedback

Aug 5th, 2015

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Aug 5th, 2015
...
Aug 5th, 2015
Oct 24th, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer