If you enjoy posting pictures to social media websites using the camera on your Android smartphone, a monopod is a useful phone accessory. The sellers on eBay offer a wide range of these selfie sticks, making it easy to find the one you want.
There are two ways you can take deductions: you can itemize deductions or use the standard deduction. Deductions reduce the amount of your taxable income. The standard deduction amount varies depending on your income, age and filing status, and changes each year; see Topic 551 for more information. Certain taxpayers cannot use the standard deduction: 1  A married individual filing as married filing separately whose spouse itemizes deductions.
Eliminates the need to itemize deductions, like medical expenses and charitable donations; Lets you avoid keeping records and receipts of your expenses in case youâre audited by the IRS; Itemized deductions. Itemized deductions also reduce your taxable income. Ex: If youâre in the 15% tax bracket, every $1,000 in itemized deductions knocks $150 off of your tax bill. You might benefit from itemizing your deductions on Form 1040, Schedule A if you: Have itemized deductions that total more than the standard deduction you would receive; Had large, uninsured medical and dental expenses; Paid mortgage interest and real estate taxes on your home