How do I know? I do have a charitable deduction I guess. I give 10 percent of my income to my church and I give bags of clothes to goodwill every couple months it seems but that is all as far as that goes.
2007-03-17 14:05:13 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
If you're single, you get a standard deduction of $5150. If you're married, the standard deduction on a joint return is $10,300.
If your total itemized deductions is more than the standard deduction for your filing status, then you should itemize to pay less taxes. Tithing plus clothes given to goodwill might or might not meet that. State and local income taxes would add to that - if you don't pay state tax, then deduct sales tax. But if that's basically all you have for itemized deductions, the total very likely doesn't exceed the standard deduction.
2007-03-17 14:17:25 · answer #1 · answered by Judy 7 · 2⤊ 0⤋
You can either take the standard deduction or itemize. If you don't have mortgage interest or taxes to deduct, it's a safe bet that the standard deduction will be more than the amount you can itemize. Unfortunately, you can't deduct charitible contributions if you don't itemize.
2007-03-17 21:10:22 · answer #2 · answered by C Anemone 5 · 0⤊ 0⤋