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Good point about the tax savings. The other consideration is that there is NO tax advantage to itemizing until the total of the itemized deductions exceeds the standard deduction. Let's say your itemeized deductions for 2006 were a total of $20300. The standard deduction was $10,300 (I picked figures for easy math). So in the 25% bracket you save $2500 on taxes, not $5075. If it's there you take it, of course, but it isn't that big of an advantage.
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