Standard deduction vs Itemized Deductions. When to use Itemized vs Standard Deductions 1040, 1040SR

Katie St Ores CFP, ChFC, EA
Katie St Ores CFP, ChFC, EA
19.2 هزار بار بازدید - 4 سال پیش - Deductions - Standard deduction vs
Deductions - Standard deduction vs Itemized Deductions.  When to use Itemized deductions vs Standard Deductions
This new 'How To' video covers Deductions, Standard deductions vs Itemized deductions.

Helpful IRS Form links for deductions and Form 1040 and 1040-SR:

Schedule A - Itemized deductions
   https://www.irs.gov/pub/irs-pdf/f1040...
   (Form 1040 or 1040-SR  Itemized deductions)

Form 1040  U.S. Tax Return
    https://www.irs.gov/pub/irs-pdf/f1040...

Form 1040SR  US Tax Return for Seniors
    https://www.irs.gov/pub/irs-pdf/f1040...

Standard vs Itemized Deduction video log...
   0:55  Standard Deduction amounts
   1:45  Who can't use Standard Deduction
   2:30  Form 1040, Where to find Deduction Amounts
   2:50  What does it mean to Itemize
   3:10  When to Itemize vs take Standard deduction
   3:26  Most common expenses to itemize
   3:40  Mortgage interest deduction
   4:35  Medical expense itemized deduction
   5:20  Medical deduction example
   6:22 Medical deduction - Chair lift
   7:19 Items no longer deductions
   7:53  Schedule A -  Itemized deductions


Unsure of the new filing status when filing form 1040?
Helpful Form w4 Employee's Withholding Certificate links.  
Form W4 and w-4 Estimator at IRS Tax .gov website:
    W4 Estimator or IRS W-4 Form Estimator
       https://www.irs.gov/individuals/tax-w...
    W 4 IRS Form W-4    
        https://www.irs.gov/pub/irs-pdf/fw4.pdf

W4 Tax Form 2021 has 3 variations in 2021:
   W4 Tax Form 2021 Single
   W4 Tax Form 202 1Head of Household
   W4 Tax Form 2021 Married Filing Jointly

Katie St Ores has also done other Standard Deductions related videos:
     Items needed to prepare your taxes
      How to replace missing W2
      How to pay your taxes to the IRS

Katie St Ores CFP, ChFC, EA has done a 'How To file a W4' video for each W-4 Form:
     Employee's Withholding Certificate
    How to fill out a W4 Form 2021
    How to fill out W4 single 2020 W-4
    How to fill out a w4 Married Filing Jointly W-4 2021
    How to fill out a W-4 Head of Household W4 2020
     For W4 married filing separately, please watch How to fill out W4 single.
(W4 for Single is the same as W-4 for married filing separately)

Katie St Ores has also done other Form W-4 related videos:
     W4 vs W2  What's the difference
     W4  IRS Form W-4 Explained in 2021
      IRS Form W2 explained
      How to replace missing W2
      How to pay your taxes to the IRS
      Employee's Withholding Certificate

How to file a W4 Employee's Withholding Certificate form can be confusing.  We hope these videos on W4's and W2's are helpful in completing these new IRS Forms in 2021.     Remember, only steps 1 & 5 are required when filling out  Form w4. Two more Form w 4 videos are to be completed soon. First, How to file a W4 Form and How to complete a W-4 form using the W4 Form Estimator.  These will be in the new How to File form W4 Playlist.
Good luck and Thanks again...
 
Note: Please understand that these videos are for EDUCATIONAL purposes only and are very general..  All people and their financial situations are different. So it is important to consult your tax or financial professional.
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Katie St Ores CFP®, ChFC®, EA, LTC

• 97 Hours of Continuing Education each year to maintain Professional designations
• CFP® - Certified Financial Planner  
• ChFC® - Chartered Financial Consultant
• EA - Enrolled Agent - Empowered by the U.S. Dept of the Treasury
• Licensed Tax Consultant –Licensed by the State of Oregon
• Registered Investment Adviser- Oregon Div. of Financial Regulation
• Tax Accountant - Markusen & Schwing CPA's
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Katie St Ores  CFP
Independent Medicare Agent
McMinnville, Oregon 97128
Katie St Ores CFP®, ChFC®, EA, LTC
St Ores Wealth Management llc
www.SaintOres.com

2020, 2021 Women’s Initiative (WIN) CFP®  Board
2020, 2021 Financial Women to Watch on Youtube
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4 سال پیش در تاریخ 1398/12/27 منتشر شده است.
19,260 بـار بازدید شده
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