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.
Deductions are subtractions from a taxpayerâs adjusted gross income (AGI) . They reduce the amount of. income that is taxed . Most taxpayers have a choice of taking a standard deduction or itemizing their deduc-. tions . When taxpayers have a choice, they should use the type of deduction that results in the lower tax .