AnnetteB6
Employee Tax Expert

Deductions & credits

If you are increasing your itemized deductions (like mortgage interest, charitable contributions, medical expense) and your taxes are not changing, then it could be that you have lowered your income tax all that you can, but your self-employment tax is staying the same (if you have a Schedule C with a profit).  

 

Or, if you are increasing your property tax deductions, then you may have reached the limit for the state and local tax deduction, which would prevent the itemized deductions from increasing any further to lower your income tax.

 

 

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