What is the name of your state? WA
2004 income was reduced comparing to 2003, however I had the same deductions (standard, motgage interest, business losses). My accountant told me that after the deductions I had zero taxable income but I cannot get as a refund a larger amount that I paid already in taxes. Is this true?
In other words, I paid $6000 in taxes but if I list all the deductions the refund would be a lot higher. He says that I cannot get more than $6000.
Thank you
2004 income was reduced comparing to 2003, however I had the same deductions (standard, motgage interest, business losses). My accountant told me that after the deductions I had zero taxable income but I cannot get as a refund a larger amount that I paid already in taxes. Is this true?
In other words, I paid $6000 in taxes but if I list all the deductions the refund would be a lot higher. He says that I cannot get more than $6000.
Thank you