- File Married Filing Joint, or Married Filing Separate.
- Claim a personal exemption for a dependent student, or allow the student to claim an education tax credit on his or her own return.
- Claim an "above-the-line" adjustment to income for tuition and fees; an itemized deduction as an "employee business expense" if applicable; or an education tax credit.
- Depreciate a new business asset, or claim a Section 179 expensing deduction.
- Itemize your deductions, or claim the standard deduction.
- Deduct state and local income tax paid, or state and local sales tax paid.
- Deduct state and local sales tax paid from the Optional Sales Tax Tables, or claim the total actual sales tax paid.
Tax Basics: Consider All Your Options
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