10 Best "Itemized" Tax Deductions
Video Overview & Insights
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.
What's the largest money amount of itemized deductions you've seen?
Timecodes:
0:00 - Intro
ok tan tay
0:25 - Tax Deduction 101
2:33 - State & Local Income Taxes
Thanks.
4:06 - Real Estate Tax
4:46 - Personal Property Tax
Capital Losses????
5:53 - Mortgage Interest
6:25 - Home-Equity Loan Interest
Bro you fast as hell, didn’t understand what is itemised deductions
6:54 - Charitable Donations
7:45 - Medical Expenses
English
8:39 - Long-Term Care Premiums
9:28 - Casualty Losses Due To Federally Declared Disaster
10:16 - Gambling Loss
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It's crazy how you showed Albany. I literally just started working here and wanted to reduce my taxes.
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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.
The SALT limitation of $10,000 is so annoying! So if I pay 15K in property tax in house and 8K in sales tax on a new car, I can only deduct 10K?
More User Perspectives
It’s tax info if the word tax comes out of your mouth relating to taxes
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Great video. Thank you!
@chadbailey7038Top 10 first comment!
🎉
Good video, thanks! I think I need to investigate the LTC insurance deduction, I may have been letting that one slip by. 😮
@bonwatcherThank you for your very well explained points, Tae. Your information is always super helpful and last year came in very handy with VTSAX-VTI loss harvesting 😊🥲
@JoseLNazarioGreat content 👌 👏 👍
@peterl2767While it's not technically gambling, but would you put portfolio losses under gambling loss as well, or something similar?
@me0101001000Thank you for these very helpful videos! 👍
@Seoulsearch616