You may be able to maximize your personal deduction through bunching. It’s a great way to ensure that your deductions will exceed the new standard deduction thresholds and is especially beneficial in a year in which you know that you will have a higher than normal income.
Ryan is a marketing specialist. He enjoys helping Redpath and Company, Ltd. share the experiences and insights of their many CPAs with audiences in and out of Minnesota. He has been at Redpath and Company since 2017.More posts by Ryan Krym