When is the right time to itemize your taxes?
Tax season can be a daunting time for many individuals, filled with confusing forms, numbers, and decisions to make. One of the critical decisions taxpayers face is whether to file with itemized deductions or opt for the standard deduction. Understanding the differences between these two approaches is crucial for anyone looking to minimize their tax liability and make informed financial decisions. In this blog, we'll explore the distinctions between Itemizing Deductions and the Standard Deduction, so that you can choose the most advantageous filing method for your tax reality. Background: Mass income taxation was introduced during World War Two when the US...