Jackson Hewitt wants you to get all the deductions and credits you’re entitled to! For that reason, we invite you to view our list of 2014 tax tips and tactics designed to help you reduce your tax burden.
Itemized Deductions - Limit
Total itemized deductions for "High Income Taxpayers"
(taxpayers whose income is greater than $258,250 if Single, $284,050 if Head of
Household, $309,900 if Married Filing Jointly and $154,950 if Married Filing
Separately) will be reduced by 3% of the income over the threshold amount for
their filing status. The reduction is limited to 80% of total
allowable itemized deductions. The standard deduction is not
reduced or limited.
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