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www.eInvesting.com Forum Index » Saving Money

"Bunch" your tax-deductions

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trixiezzz

Posted: Tue Mar 08, 2005 4:59 pm Post subject: "Bunch" your tax-deductions

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Have you heard of "bunching" for taxes?

It's one way to get the most from your deductions by itemizing one year and taking the standard deduction the next. You shift as many itemizable deductions into the one year that you're planning on itemizing. (pay 1st year's property tax in Jan 2005 and then next year's in Dec 2005, thus giving you double for one year).

Then the next year, you take the standard deduction.

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