Itemize

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Itemize

To list a specific expense the taxpayer has had over the course of the tax year in order to reduce one's taxable income. One may itemize most medical expenses, for example, and deduct them from one's taxable income. The same is the case for interest on mortgages and business expenses. The IRS allows itemized deductions as an alternative to the standard deduction, which takes a flat amount out of one's taxable income. Itemized deductions are subject to certain restrictions; for example, some expenses must exceed a certain percentage of the adjusted gross income to be deductible.
References in periodicals archive ?
He said senators also did their own itemization up to March 7, nearly a month after the Feb.
In general, a Type A syllabus, with its itemized structure gives the teacher high levels of accountability, whereas the Type B syllabus that is focused mainly on the tasks does not allow for as much itemization, therefore, providing lower levels of accountability for the teacher.
Seven appendices contain forms such as a security contractor questionnaire, a scheduling-efficiency comparison, and a vendor bill rate itemization.
Therefore, federal agencies may pay service provider bills that include itemization of the amended District 9-1-1 surcharge.
In Supplement I to part 203, under Section 203.4--Compilation of Loan Data, under 4(a) Data Format and Itemization, a new paragraph 4 is added:
The budget narrative details a comprehensive itemization and explanation of the costs incurred from the administration and implementation of the program.
* Beyond any itemization of disputes, even the serious ones, is something much stronger.
An itemization of any expense in addition to lodging incurred at a hotel.
[sections] 768.77 purports to require itemization of verdicts to a certain extent in certain cases.
Reports encompass plant status, production summaries, downtime details, and scrap itemization. Data on jobs, machines, work shifts, tools, and parts can be accessed.
Most states require you to send an itemization of the damage to the resident within 30 days after the resident leaves.
This very specific reference should include an itemization of all equipment and/or a plan showing not only the space leased, but also the specific equipment to be installed and its location.