Tax season can feel like navigating a maze, but don’t worry, we’re here to help! One key to potentially lowering your tax bill is itemizing deductions. This means listing out specific expenses you’ve had throughout the year that the IRS allows you to subtract from your taxable income.
Taking the standard deduction is an option, but itemizing might save you more money if your qualifying expenses exceed that amount. Keeping track of everything can be a bit overwhelming, but with a little organization and the right tools, you can make the process smoother. Let’s explore how!