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Subject:  Re: How much is enough? Date:  1/7/2011  12:28 AM
Author:  madbrain Number:  68123 of 97883


I always like it when the standard deduction is a better deal than itemizing. It means I get to deduct more than my expenses would allow. Lower expenses, good. Bigger deduction, also good. What's not to like?

It's hard for me to imagine ever being below the threshold for the $5800.

Maybe if I was not a homeowner and thus didn't pay property taxes, and didn't have a mortgage and thus had no deductible interest, if I lived in a state without income tax, and was not working and thus didn't pay payroll disability taxes. A whole lot of if ! Each of those items except the last one is over $5800 for me, you don't want to know what the total is.

Renters don't necessarily really have lower expenses, merely lower tax-deductible expenses. Usually they still end up paying enough in rent to cover at least their landlord's property taxes and mortgage interest. And most states do have property taxes and income taxes.
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