{"id":31033,"date":"2023-01-13T14:59:15","date_gmt":"2023-01-13T19:59:15","guid":{"rendered":"https:\/\/www.eztaxreturn.com\/blog\/?p=31033"},"modified":"2023-06-04T11:11:30","modified_gmt":"2023-06-04T16:11:30","slug":"do-you-want-to-pay-as-little-taxes-as-possible","status":"publish","type":"post","link":"https:\/\/staging.eztaxreturn.com\/blog\/do-you-want-to-pay-as-little-taxes-as-possible\/","title":{"rendered":"Do You Want to Pay as Little Taxes as Possible?"},"content":{"rendered":"\r\n

It\u2019s super ez! Virginia\u2019s just ramped up it\u2019s Standard Deduction.<\/p>\r\n\r\n\r\n\r\n

This year, Virginia residents are in luck. Filers can save a lot more money because the standard deduction amount for the State of Virginia has almost DOUBLED<\/strong>.\u00a0 And, as you may already know, one of the ez-est ways to trim your tax bill is to claim the standard deduction.\u00a0<\/p>\r\n\r\n\r\n\r\n

Here are some helpful hints to guide you:<\/strong><\/h2>\r\n\r\n\r\n\r\n

Why choose standard deduction vs. itemized deduction?<\/em><\/h3>\r\n\r\n\r\n\r\n

When you prepare your taxes, you have the option of taking a standard deduction or to itemize your expenses.<\/p>\r\n\r\n\r\n\r\n

At ezTaxReturn<\/a>, we\u2019ll crunch the numbers and compare both the options – the standard deduction and the itemized deduction, so you will get to choose the one that saves you the most money.\u00a0<\/p>\r\n\r\n\r\n\r\n

The standard deduction is simply a set amount you can subtract from your taxable income.\u00a0 Itemizing on the other hand, may make more sense for your situation, if you have a larger amount of deductible expenses.\u00a0<\/p>\r\n\r\n\r\n\r\n

It\u2019s also important to note that if you itemize on your federal return, you must also itemize on your Virginia state return.<\/p>\r\n

 <\/p>\r\n\r\n\r\n\r\n

What is the new deduction?<\/strong><\/h2>\r\n\r\n\r\n\r\n

For tax year 2022, the Virginia standard deduction is:<\/p>\r\n\r\n\r\n\r\n