Should you itemize your deductions or take the new increased standard deduction this tax season? Answer carefully as thousands of dollars could be on the line! Most folks will opt for hitting the easy button and take the standard deduction- however if you own a house, had some big medical bills last year, and gave money to charity, you should consider itemizing! Listen as we cover it in more detail, plus we break down the best way to make the most of your deductions through bunching. We also touch on tax credits- how they’re different than deductions and some big ones that everyone should consider!
And if you’re not sure where to file- check out Credit Karma Tax, IRS Free File, or consider the new 1040 postcard!
During this episode we enjoyed a Dark Reckoning by Morgan Territory Brewing which you can find and learn all about on Untappd. A big thanks to Brent in California for sending us some delicious beers! And if you enjoyed this episode, be sure to subscribe and give us a quick review in Apple Podcasts, Castbox, or wherever you get your podcasts- we’d love to hear from you.
Best friends out!
Where do you have a link to the Excel spreadsheet for taxes? You talked some guy that loves Excel so much he input all the tax forms into spreadsheets and makes them available. As a fellow Excel lover, I am interested in trying it out! Thanks guys, you are doing a great job.
Hey Jessica! We mentioned those forms at the beginning of this episode, but you can also find them by clicking here!