4. All of the following regarding income tax planning are correct EXCEPT: a. An additional standard deduction is allowed for a taxpayer who is 65 years of age or older or blind. b. Belowtheline deductions are usually considered to be more favorable to the taxpayer than abovethe line deductions on a dollarfordollar basis. c. The basic tax formula is Income Deductions = Taxable Income d. All of the above are correct