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The rich usually have some other deductions exceeding the standard deduction, so it doesn’t help them at all.
by disishhsha 8y ago
The rich usually have some other deductions exceeding the standard deduction, so it doesn’t help them at all.
- ryanwaggoner 8y agoDepends on how rich they are, especially now with sharp limits on deductions of taxes and mortgage interest. You can also time it so you bunch your itemized deductions for multiple years into a single year and then take the standard deduction in the other years.