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It's December and Dana and Sam are trying to decide whether they need to start keeping all their receipts starting in January. They qualify for
It's December and Dana and Sam are trying to decide whether they need to start keeping all their receipts starting in January. They qualify for a standard deduction of $11,400. They expect to pay approximately $6,600 in interest on their mortgage (they made an amortization table to calculate that), approximately $1800 in property taxes for their house and cars, $2400 in state income taxes, and donate $500 to tax-deductible causes. Do you think they should save their receipts? In a paragraph, explain why or why not, and back up your reasoning with calculations 4
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