| Did you know that Americans alone will claim more | | | | have the automatic reinvestment option turned on in |
| than a trillion dollars in deductions on their income tax | | | | their stock ownership. Whatever you make on your |
| returns every year? The IRS reports that of all the silly, | | | | investments in dividends are just re-invested back to |
| avoidable mistakes that we make on our tax returns | | | | buy you more of the same shares. What that does is |
| each year, the ones we should pay particular attention | | | | that it just sets you up for bigger taxes coming from |
| to, have to do with not putting down enough allowable | | | | bigger assets. The important thing to remember is that |
| deductions. | | | | when people cash in their investments, they forget that |
| For example, if you just turned 65 years of age, your | | | | they have already paid the taxes once, when those |
| reward is that you get to claim a larger standard | | | | shares were initially bought. So the result is that they |
| deduction than the rest of us. Of course, paying taxes | | | | just pay taxes on them all over again. What you |
| is good for the country. It means more roads and | | | | should do is to make sure that you take note of how |
| more schools can be built, but who wants to pay the | | | | many shares you invested in to begin with, and how |
| IRS any more than he or she absolutely has to? So | | | | many you have at the end of your term. This, |
| then what are these income tax deductions that we all | | | | however, may not strictly be a deduction though, it's |
| seem to be missing most of the time? | | | | just that you shouldn't have to pay twice for anything. |
| Mutual Fund Investments: Most mutual fund investors | | | | |