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	<title>Tax Hacks &#187; Links</title>
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	<link>http://www.taxhacksblog.com</link>
	<description>Tips and tricks for doing maximizing your tax return</description>
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		<title>Some good tips from Bank of America</title>
		<link>http://www.taxhacksblog.com/2009/02/some-good-tips-from-bank-of-america/</link>
		<comments>http://www.taxhacksblog.com/2009/02/some-good-tips-from-bank-of-america/#comments</comments>
		<pubDate>Mon, 23 Feb 2009 02:33:12 +0000</pubDate>
		<dc:creator>chris</dc:creator>
				<category><![CDATA[Deductions]]></category>
		<category><![CDATA[Links]]></category>
		<category><![CDATA[amt]]></category>
		<category><![CDATA[bank of america]]></category>
		<category><![CDATA[inflation]]></category>

		<guid isPermaLink="false">http://www.taxhacksblog.com/?p=38</guid>
		<description><![CDATA[A few days ago, I received a pleasant email from Bank of America with some advice for tax season, several of which were very useful. One was a page on itemizing deductions. Like many people, whether or not to itemize deductions or take the standard deduction is a confusing choice. The short answer is that [...]]]></description>
			<content:encoded><![CDATA[<p>A few days ago, I received a pleasant email from Bank of America with some advice for tax season, several of which were very useful.</p>
<p>One was a page on itemizing deductions.  Like many people, whether or not to itemize deductions or take the standard deduction is a confusing choice.  The short answer is that if you have large (several thousand dollars or more) expenses in the following categories, then you should consider it:</p>
<ul>
<li>Medical expenses more than 7.5% of your adjusted gross income</li>
<li>Mortgage interest</li>
<li>Charitable contributions</li>
<li>State and local income taxes, general sales tax on retail purchases, as well as real estate and property taxes.  Not all of these can be combined, though.</li>
<li>Things like gambling losses, tools, and dues that exceed 2% of your adjusted gross income</li>
</ul>
<p>They also had a page on what&#8217;s new with 2008 taxes, like <a href="http://www.irs.gov/newsroom/article/0,,id=174876,00.html">inflation adjustments</a>, and changes to the <a href="http://www.irs.gov/newsroom/article/0,,id=202106,00.html?portlet=7">alternative minimum tax</a>.</p>
<p>Normally, I throw away nearly all email from banks.  At best, it&#8217;s notifying me of new terms of service, and at worst it&#8217;s an offer for yet another credit card.  This time I had a pleasant surprise.  (I would link to their article, but unfortunately it seems nearly impossible to link to the web pages: they aren&#8217;t available on their normal web site, and the links don&#8217;t seem to work unless clicked-through from the email newsletter they sent to me.)</p>
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		<title>Tax Hacks Elsewhere</title>
		<link>http://www.taxhacksblog.com/2008/12/tax-hacks-elsewhere/</link>
		<comments>http://www.taxhacksblog.com/2008/12/tax-hacks-elsewhere/#comments</comments>
		<pubDate>Fri, 19 Dec 2008 14:19:28 +0000</pubDate>
		<dc:creator>thursday</dc:creator>
				<category><![CDATA[Links]]></category>
		<category><![CDATA[lifehack]]></category>

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		<description><![CDATA[If you&#8217;re looking for a few tips on year-end tax hacks, check out the post I wrote for LifeHack: Hack Your Taxes Before Jan. 1.]]></description>
			<content:encoded><![CDATA[<p>If you&#8217;re looking for a few tips on year-end tax hacks, check out the post I wrote for LifeHack: <a href="http://www.lifehack.org/articles/money/hack-your-taxes-before-jan-1.html">Hack Your Taxes Before Jan. 1</a>.</p>
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