Re:US Senator Warren Introduces Bill to Simplify Tax Filing
by bcheung on Wednesday April 13, 2016 @05:57PM
(#11492616)
If you are working as a programmer in Silicon Valley your income is most likely high enough to itemize to deduct your state taxes from the Federal Adjusted Gross Income. Your deduction would exceed the standard deduction. Unless you know you can itemize your state taxes you are going to end up paying more in taxes.
The default is to go with the standard deduction which would be throwing away money.
IANAL but as per the text of the bill you won't be "eligible" if you itemize.
The default is to go with the standard deduction which would be throwing away money.
IANAL but as per the text of the bill you won't be "eligible" if you itemize.