keeping all receipts

[2011GT]

I was wondering if it is worth while to keep all of my every day to day receipts. Can I use these on my tax return to get a bigger refund?

[slow99]

I think you're gonna be hard pressed to beat the standard sales tax deduction.

[Sleeper]

Only if you know your over the standard deduction.

[2011GT]

Ok, what is the standard tax deduction? Does differ depending on what tax bracket you're in?

[Sleeper]

Married I think was 11,000.

[slow99]

Single: 5800
Married filing jointly: 11600

[2011GT]

Married I think was 11,000.

hum... That's some high coin... Would everything I spend go towards that? Rent, car payment, insurance payment, gas, cell phone, electric bill, cable, food, etc?

I'm trying to justify the cost of buying a neat scanner.

[slow99]

hum... That's some high coin... Would everything I spend go towards that? Rent, car payment, insurance payment, gas, cell phone, electric bill, cable, food, etc?

I'm trying to justify the cost of buying a neat scanner.

Lol, no dude. Every dollar you spend isn't tax deductible.

[Cooter]

have you ever done your taxes before?

[2011GT]

Lol, no dude. Every dollar you spend isn't tax deductible.

Well that blows, hahaha. Damn taxes! UGH.

[2011GT]

have you ever done your taxes before?

Yes, I have never itemized though. I just use turbotax. Enter in all my info from my W2s and interest paid on the house, etc.

[Cooter]

fair enough... just never paid attention to standard deductions, etc?

[slow99]

Yes, I have never itemized though. I just use turbotax. Enter in all my info from my W2s and interest paid on the house, etc.

Generally speaking, the thing that puts most people over the standard deduction is owning a home...interest is tax deductible.

Even then, if you itemize, there's a standard sales tax deduction amount and I would venture to guess you wouldn't beat that unless there were some extenuating circumstances. (I could be fuzzy on this, it's been years since I filed a Texas return).

[2011GT]

fair enough... just never paid attention to standard deductions, etc?

no, but now that you mention it I remember donating a bunch of crap one year to Helping Hands and I entered in a dollar amount of what I thought the stuff was worth and it told me I didn't meat the minimum.

[2011GT]

Generally speaking, the thing that puts most people over the standard deduction is owning a home...interest is tax deductible.

Even then, if you itemize, there's a standard sales tax deduction amount and I would venture to guess you wouldn't beat that unless there were some extenuating circumstances. (I could be fuzzy on this, it's been years since I filed a Texas return).

Eh I guess I will continue to do what I've always have done and just do the basic stuff and not mess with all the extra deductions.