What Itemized Deductions Are Allowed for Both Regular Income Tax

question 98

Essay

What itemized deductions are allowed for both regular income tax purposes and for AMT purposes?

---

Definitions:

Wage Disparity

The difference in earnings between two or more groups within a workforce, often based on gender, race, occupation, or education level, that can lead to inequality.

Median Earnings

The middle value of earnings in a given distribution, with an equal number of persons earning more and less than this value.

Efficiency-wage Model

A theory suggesting that higher wages can lead to increased productivity by attracting better workers and motivating them to work harder.

Marginal Productivity

The additional output generated by employing one more unit of a particular input, holding other inputs constant.