Bunch up itemized deductions

The standard deduction increased dramatically with tax reform, from $13,000 to $24,000, so it may not be attractive any longer for you to itemize deductions. It might still make sense to itemize deductions if you make your January mortgage payment in December to get an extra month’s interest deduction and add up your medical expenses. For 2018, expenses in excess of 7.5% adjusted gross income are deductible. This is reduced from the 10% threshold in 2017. You obviously can't control when you get sick, but if you’re close to the 7.5% threshold "bunch up" procedures to maximize any deductibility.