 Income tax 2023-2024, itemized deductions, gifts to charity. Get ready and some coffee because we need to save some money for vacation with the help of 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. Remember in the first half of the income tax formula is in essence 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 deductions for taxes are good. We're typically looking for more of them.