Using additional deductions to multiply tax savings on dividends

09/4/2013 | Journal of Accountancy online

Taxpayers can work the tiered taxable rates on qualified dividends and long-term capital gains to their advantage by taking additional deductions, according to this article. Taxpayers with ordinary and preferential income can use deductions to offset ordinary income and shift preferential income to a lower tax bracket. This article uses hypotheticals to take preparers through the calculations.

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