Dr. Friday takes a festive break to remind listeners about itemized deductions. With thresholds at $14,600 for singles and $29,200 for married couples, many won’t need to itemize. Enjoy your holiday while keeping this simple tax tip in mind for future planning.
Transcript:
G’day, I’m Dr. Friday, president of Dr. Friday’s tax and financial firm. To get more info, go to www.drfriday.com.
This is a one-minute moment, and it’s Christmas Eve, and I know none of you are sitting around thinking about taxes on this day. Most likely you’re wrapping presents, putting together toys, or just basically chilling because you know tomorrow you don’t have to go to work.
No matter how it works out, hopefully you’re going to enjoy it. But let’s talk a little bit about itemized deductions. This is an easy one. You’re not going to have to do anything because most of you are not going to meet the itemization. A single person is going to be $14,600, married $29,200, and head of household $21,900. You have to exceed that before it even kicks in for itemizing.
So hopefully you’re going to enjoy the night. If you need help, 615-367-0819. You can catch the Dr. Friday Call-In Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7. WTN.