 Income tax 2023-2024, itemized deductions, interest you paid. Get ready and some coffee because we're looking to get the tax man off our back with income tax preparation 2023-2024. Most of this information can be found in the instructions for Schedule A Tax Year 2023 which you can find on the IRS website at IRS.gov, IRS.gov. Looking at the income tax formula, we're focused on what I would call the below the line deductions. More specifically, the itemized deductions. Remembering the first half of the income tax formula is basically a funny income statement. Most income statements having income minus expenses resulting in net income. Here having income minus various deductions resulting in taxable income. Remembering that for taxes deductions are good therefore we look for more of them. The difference between the types of deductions include the above the line deductions or adjustments to income do not have to clear a threshold such as the standard deduction before we get a benefit from them whereas the itemized deductions do typically have to increase higher than the threshold of the standard deduction before we get a benefit from them.