2 ms·
Do most people actually qualify for any meaningful deductions? Does a married couple, say, two minimum wage workers, both on W2, really qualify for any meaningf
by vineyardmike 2y ago
Do most people actually qualify for any meaningful deductions? Does a married couple, say, two minimum wage workers, both on W2, really qualify for any meaningful deductions? The median American household earns about 60k a year in income.
Most people should probably take the standard deduction, and not try to itemize their taxes? Most deductions require you to actually spend a certain amount of money to save anything, and the standard deduction is like 30k.
There are millions of permutations of different deductions, and that makes taxes seem scary, and society talks a ton about all these different rules, but I’m pretty confident that the average W2 American stays well within the happy-path of “employer takes a percentage of your income, and you ack that in April”