It’s a good idea to review your tax deductions for 2013 while there’s still time to manage them for a lower tax bill this year.
The standard deduction for 2013 is $12,200 for married couples filing a joint return and $6,100 for single taxpayers. If your deductions are close to the threshold, consider accelerating deductible expenses.
For example, you can add sales tax paid on a new vehicle to the IRS standard amount when claiming the itemized deduction for state and local sales tax.
For assistance with this or other tax or accounting matters please contact us at 201-947-8081 or 646-688-2807, or email us at firstname.lastname@example.org.