What Are Itemized Tax Deductions?

Dr Friday Tax Tips - One Minute Moment
Dr. Friday Tax Tips
What Are Itemized Tax Deductions?

Dr. Friday 0:00
Good day. I’m Dr. Friday, President of Dr. Friday Tax and Financial firm. To get more info go to www.drfriday.com. This is a one-minute moment.

Dr. Friday 0:12
I need to try to understand why so many people walk into my office and they seem to be upset because they are not itemizing. Now, let’s regroup here. If you don’t spend 12,550 on property taxes, mortgage interest, and charity, the government’s going to give you $12,550. So to me, it seems like this is a great thing. And if I did give an additional 300 to charity in cash, they’re going to give me that too. So, don’t worry about going into debt just so you can itemize. The best thing is to take the standard deduction and put the money in your pocket.

Announcer 0:51
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