Deduction Optimizer

Filing Status

Marginal Tax Rate (%)

Limit: $750,000

Interest paid on primary and secondary residence mortgages

Limit: $10,000

State income, local, and property taxes

Donations to qualified charitable organizations

Medical expenses exceeding 7.5% of AGI

Unreimbursed business expenses (limited for employees)

Limit: $2,500

Interest paid on qualified student loans

Take Standard Deduction

Standard deduction is $13,850 higher

Standard Deduction$13,850

Total Itemized Deductions$0

Recommended Deduction$13,850

• Consider bunching deductible expenses into alternating years to exceed the standard deduction
• Pre-pay state and local taxes (up to $10K limit) if beneficial
• Time charitable contributions to maximize tax benefit
• Charitable contributions can provide significant tax benefits

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