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Laura M

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  • What will change if my income increases dramatically?

    My husband owned about 1.5% of two buildings. They were sold this year, and our income will go up. It will be about 4xs what it was last year. I have paid quarterly on the money. I am a little unsure what will happen with itemizing. Does some of it go away? I am wondering if we should increase our deductible items (like charities and paying the 2nd installment on our prop taxes) for the year 2007? or should we hold them until 2008? Thanks!

    3 AnswersUnited States1 decade ago