11. He notes that people who participate in any kind of employer-sponsored pension plans can claim deductions for traditional IRAs only if their incomes are below certain levels. 12. In both cases, though, claiming those deductions can come back to haunt them when they sell their houses. 13. In this way, the donors could claim tax deductions. 14. Nearly all companies would continue to claim the deduction, accountants predicted. 15. Note that some deductions can be claimed only after a certain threshold of adjusted gross income. 16. Taxpayers could have an easier time complying with a flat tax because individuals would be able to claim fewer deductions than under the current system, the report said. 17. The benefits increase as families claim more deductions, as their income goes up and as they buy bigger houses with bigger mortgages. 18. The companies are expected to claim tax deductions to reflect their costs. 19. The easiest way to fall into AMT is to claim large deductions for state income taxes or oil and gas exploration costs. 20. The new deduction cannot be claimed if a Hope or lifetime learning credit is claimed for the same student in the same year. . . |