| BUSINESSWEEK ONLINE : FEBRUARY 1, 1999 ISSUE | ||||||||
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| PERSONAL BUSINESS
Reducing the Bite for Partners Who Aren't Hitched Have the higher-income partner pay the mortgage and property taxes to make best use of the related deductions Also let the higher-income partner make the charitable donations to reap the greatest tax benefit Look into whether the higher-income partner should file as head of household and claim any children as dependents By shifting deductions to the higher-income partner, see if the other one can benefit from taking the standard $4,250 deduction for singles DATA: JAMES DAVIS, BUSINESS WEEK _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ |
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