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hello my name is Kitty sonorus with sonorous Wealth Management and in this video were going to talk about the difference between standard and itemized deductions and when to use one or the other lets get going [Music] first of all what is the standard deduction standard deduction its basically a flat amount you can deduct on your taxes and the amount is based on your filing status because of the tax reform the amount of standard deduction is actually almost doubled if you see right here and the chart 2017 standard deduction for a single filer was sixty three hundred fifty dollars for 2019 tax year its twelve thousand two hundred dollars for head of household eighteen thousand three fifty twenty four thousand four hundred for married filing jointly twelve thousand two hundred the same as for single for married filing separately and twenty four thousand four hundred for qualifying widower or widower you can use standard deduction in one year and you can itemize in another year it do
