When it comes to doing our taxes, many of us face this crucial dilemma: to itemize or not itemize. Should we take the standard deduction or try to maximize the itemized deductions? So in the spirit of itemization, in this video, I will review the top 10 “itemized” deductions you should be aware of.
Timecodes:
0:00 - Intro
0:25 - Tax Deduction 101
2:33 - State & Local Income Taxes
4:06 - Real Estate Tax
4:46 - Personal Property Tax
5:53 - Mortgage Interest
6:25 - Home-Equity Loan Interest
6:54 - Charitable Donations
7:45 - Medical Expenses
8:39 - Long-Term Care Premiums
9:28 - Casualty Losses Due To Federally Declared Disaster
10:16 - Gambling Loss
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DISCLAIMER: I am not a financial adviser. These videos are for educational and entertainment purposes only. I am merely sharing my personal opinion. Please seek professional help when needed.
