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Did You Know?

Jan 25 2013
Tax Provisions that Expired after 2011

Posted in general

  • Maximum $250 deduction for some expenses of elementary and secondary school teachers (§62(a)(2)(D)).
  • Election to take itemized deduction for state and local sales taxes instead of state and local income taxes(§164(b)(5)).
  • Deduction for qualified higher education expenses up to $4,000 (§222(e)).
  • Higher individual Alternative Minimum Tax Exemptions. Reduced after 2011 to $45,000 for joint returns, $33,750 for single returns, and $22,500 for married filing separately (§55(d)(1)).

Last Updated by Trae Long on 2013-01-25 12:41:46 PM

Blog posts made available to you are informational only and are not intended to provide investment advice, or supplement the advice of a professional advisor. There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.

Blog posts made available to you are informational only and are not intended to provide investment advice, or supplement the advice of a professional advisor. There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.

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Blog posts made available to you are informational only and are not intended to provide investment advice, or supplement the advice of a professional advisor. There is not and can not be a guarantee of their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. You are encouraged to seek personalized advice from qualified professionals regarding all personal finance issues.