Dr Nick

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$14/per page/Negotiable

About Dr Nick

Levels Tought:
Elementary,Middle School,High School,College,University,PHD

Expertise:
Art & Design,Computer Science See all
Art & Design,Computer Science,Engineering,Information Systems,Programming Hide all
Teaching Since: May 2017
Last Sign in: 339 Weeks Ago, 6 Days Ago
Questions Answered: 19234
Tutorials Posted: 19224

Education

  • MBA (IT), PHD
    Kaplan University
    Apr-2009 - Mar-2014

Experience

  • Professor
    University of Santo Tomas
    Aug-2006 - Present

Category > Accounting Posted 09 Jun 2017 My Price 14.00

Why are the itemized deductions

Answer the following question

1-      Question 1:Why are the itemized deductions what they are? Why allow home mortgage interest, but not credit card interest? Why allow medical expense deductions, not school expense deductions? Why allow state and local income and property taxes, but not state and local sales taxes?  Why, oh why, oh why?  What are your thoughts?  Any itemized deductions you think should not be included, or that are not deductible but be?  Why? Can you make sense out of the present scheme and the six major groups (medical, local taxes, some interest, casualty, contributions, miscellaneous)?

2-      Question 2: The adjusted gross income number (AGI) is an important one. It is said it is always better for a deduction to be "for" AGI, i.e., deductible in arriving at AGI.  These are also called "above the line" deductions.  Why is it better?  Can you name any specific benefits to being deductible above the AGI line?   Discuss one or two "above the line" expenses or adjustments to income from the front page of the 1040. Why policy reason do you think made these above the line deductions instead of as itemized deductions?

 

Answers

Dr Nick
(4)
Status NEW Posted 09 Jun 2017 07:06 PM My Price 14.00

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