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Giving Up Tax Breaks A Smart Move

When you’re doing your taxes, sometimes it makes sense to give up even the most popular tax breaks, explains Andrea Coombes on MarketWatch.com. A senior tax analyst she spoke with says that “sometimes using an alternative approach can give you tax savings.” Coombes offers seven situations where giving up a tax perk may save [...]

Source: http://blogs.wsj.com/tax
 

Some tax deductions are aimed at individuals; many are directed to businesses. The complicated maze of tax deductions that Congress has instituted over the past 70 years has contributed to the view that the tax code in the United States needs to be completely redone in a simpler fashion.