Tax planning research paper

You may be able to take some deductions in addition to your standard deduction. These are called adjustments to income or “above the line” deductions, and you don't have to itemize to claim them. You can subtract them on the first page of your Form 1040 to determine your adjusted gross income. If you paid student loan interest, you can take that deduction here. Likewise, if you paid your ex-alimony, you can deduct that as an adjustment to income — you don’t have to pay taxes on this money. IRA contributions can also be deducted as an adjustment to income.

Tax planning research paper

tax planning research paper

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