The Double Stacking Strategy

Описание: Is Double Stacking Right for You? That depends upon several factors, some of which you can control and others you cannot. Do you take the itemized or standard deduction? Do you have a large dollar amount of itemized deductions, but the total falls short of the standard deduction limit? The Double Stacking Strategy may be right for you if you itemize or have large deductions – primarily derived from state taxes, mortgage interest, and charitable gifting.

A bumper sticker’s strategy is to intentionally increase your itemized deductions one year and take the standard deduction the following year. The tax-efficient benefit is that you maximize both your deductions and take advantage of the standard deduction limit over a two-year period of time.

Please don’t forget to work with a trained and qualified professional when considering this or any advanced tax planning strategy.


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