Some itemized deductions
are limited by a percentage of your gross income. An example is miscellaneous
deductions. These provide a benefit only if your total outlay for costs such as
investment fees and unreimbursed employee business expenses exceed 2% of your
adjusted gross income.
If you consistently lose
out on these deductions, check now to determine if pulling some of January's
expenses into December will help.
Keep an eye on your
exposure to the alternative minimum tax whenever you plan a strategy for making
the most of deductions. Some expenses aren't deductible under those rules.
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