About Financial Planning: Do You Itemize Your Tax Deductions?

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Financial Planning Financial Planning Budget & Save Build Wealth Protect What You Have From Jeremy Vohwinkle, your Guide to Financial Planning When it comes to taxes there are two methods for deductions. You can utilize the standard deduction which is a fixed amount based on your filing status, or you can itemize. This is an important decision because choosing the wrong method could leave thousands of dollars on the table. So, here's what you need to know about each type of deduction and find out which is best for you. Itemizing Tax Deductions When it comes to reducing your tax burden, itemizing deductions may be the way to go. The standard deduction is certainly easier, and might be a better option if you have a simple tax situation or don't own a home, but if you determine... Read more See More About:  tax deductions  tax credit  tax planning Increasing Your Credit Score No, there isn't a quick fix to your credit problems, but by understanding how your credit score is determined can help you take steps in improving it. You won't be... Read more How the Roth IRA Can Help You Retire Most people save for retirement in their employer-sponsored plan such as aÂ401(k) orÂ403(b) plan, but these plans provide up-front tax deductions and tax-deferred growth. While this can be a great... Read more Self-Employment Individuals who are self-employed have a unique set of financial issues to consider. This page will take a look at special considerations for insurance, business entities and retirement plans. Financial Planning Ads Income Tax Tax Deduction Tax Credit Tax Planning Filing Tax Return Featured Articles Real Estate & Mortgages College Savings Tax Planning Insurance Financial Tools Budgeting   More from About.com Over the Counter Cold Medications How to choose the right medication for your cold and flu symptoms. More> Should Kids Get Flu Shots? Think your child is too healthy to need a flu shot? Think again. More> This newsletter is written by: Jeremy Vohwinkle Financial Planning Guide Email Me | My Blog | My Forum   Sign up for more free newsletters on your favorite topics You are receiving this newsletter because you subscribed to the About Financial Planning newsletter. If you wish to change your email address or unsubscribe, please click here. About respects your privacy: Our Privacy Policy Contact Information: 249 West 17th Street New York, NY, 10011 © 2011 About.com   Must Reads Dealing With a Financial Emergency How to Create a Budget Automatic Savings Plan Choosing a Financial Planner How to Establish Credit Advertisement