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[Music] hi its the tax geek again with more of your taxes oversimplified today we answer the question can i itemize deductions most taxpayers are entitled to exclude some of their incomes from taxation using a standard deduction to learn all about the standard deduction you can watch the video popping up in the upper right hand corner of the screen or click the link in the description this video will make a bit more sense if youve watched it of course rather than take a standard deduction you have always had the opportunity to itemize deductions when you itemize deductions you add up specific deductible expenses and if they exceed your standard deduction itemized deductions will exclude more income from taxation prior to the tax cuts and jobs act which took effect in 2018 many taxpayers particularly homeowners would benefit by itemizing deductions this act eliminated or reduced many popular deductions and doubled the existing standard deduction making it much harder for most taxpaye
