Questions about itemized deductions are common with taxpayers. During the preparation of personal tax returns, I often receive one or both of two common questions:
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Will Itemizing On My Tax Return Give Me A Larger Deduction?
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Tax Deductions: What Are My Options for My Automobile Expenses?
A tax deduction question we often hear is, "What are my options for deducting my automobile expenses?" The Internal Revenue Code allows for two methods for deducting automobile expenses incurred for business use purposes, the standard mileage rate method and the actual expense method. Are you using the best method for you?