The clock is ticking and your taxes are going to be due in no time. You do not want to wait too long to handle your taxes, or you may be scrambling at the last minute and may even be late. And no one wants to deal with things when their taxes are late. Figuring out how much time the taxes will take to get done will depend on your unique situation and how complicated things are for you.

Many people wait until the last minute to get all of their taxes done. They then decide that they will just take the standard deduction because it looks like a good deal and can save them time compared to itemizing. And since the Tax Cuts and Jobs Act helped to double the standard deduction, it makes sense that fewer people are even wasting their time when it comes to their taxes. But the standard deduction is not always the best option for everyone.

Depending on your situation though, you may find that your expenses for the year are higher than the standard deduction. If this is true for you, then you may want to go with itemizing instead so that you can keep your taxes as low as possible. Because every deduction you claim will help reduce the income that you get taxed on, this will save you a lot of money. In addition, some people find that taking the standard deduction on their federal taxes is a good idea, but they are better off itemizing the state portion.

If you do decide to itemize your taxes, then you will need to look into starting earlier. This can save you a ton of money, but it is going to take more time as well. You can choose to do the work on your own, but set aside some extra time to get it all done. And if you are struggling with this, then it may be a good idea to hire a tax professional to help.

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