Standard deduction amount for 2022-2023: How much it is and when to take it
Typically, taxpayers have two options: Take the itemized deductions or take the standard deduction.
3 min read
May 02, 2023
Lauren Ward has nearly 10 years of experience in writing for insurance domains such as Bankrate, The Simple Dollar, and Reviews.com. She covers auto, homeowners, life insurance, and other topics in the personal finance industry.
Typically, taxpayers have two options: Take the itemized deductions or take the standard deduction.
You have to do some math to determine which method to use, but it’s worth it.