The net result of Teton County School District No.1 Employee Compensation Package for fiscal year 2015-2016 is a model based salary schedule with a top ranking in the state.
Itemized Deductions are reported on Schedule A [Itemized Deductions]. Just like the standard deduction, itemized deductions are subtracted from your adjusted gross income. The difference is that itemized deductions are a tally of actual expenses you incurred that the IRS has determined you can take a deduction for.
âA taxpayer will usually itemize deductions if it offers them more benefits than the standard deduction (i.e., when the amount of qualified deductible expenses totals more than the standard deduction),â according to the Internal Revenue Service. Click here to see the 26 most overlooked tax deductions.