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Hey mark Kohler here and were gonna talk about standard deduction versus itemizing now for everybody out there Youre an American youre gonna have to file a 1040 tax return and the rules have changed Starting in 2018 until 2023. So you want to know the difference here because it could save you big-time on your tax return All right, the general rule is you want to add up your itemized deductions and compare them against your standard deduction which everyones greater Thats the one you want to take. Now, youre gonna find out pretty quickly that my item is deductions, arent that great So youre gonna generally stick with standard deductions and not waste your time adding those up But you want to know the rule so that you know when its time to take that extra effort and figure out which ones better Now the rules are now in 2018 2019 and tell the foreseeable future in 2023. They may get all changed up again is $12,000 standard deduction if youre single $24,000 if youre married f
