Because married taxpayers at any AGI level can make either traditional IRA or Roth IRA contributions and take current deductions for traditional IRA contributions, most should choose traditional IRA contributions. (thecollegeinvestor.com)
Getting rid of many current deductions «is being done to finance rate cuts and increase the standard deduction and child tax credit,» said Nicole Kaeding, an economist with the business - backed Tax Foundation. (khn.org)
Premiums for long - term - care insurance count toward the current deduction threshold (10 percent of adjusted gross income) for medical expenses. (cnbc.com)