from federal income taxes, but now that I think about it, I haven't had itemized deductions since 2021 when a special situation ended, so it's just something i do now as my default way of doing things.
Starting in tax year 2026, the standard deduction drops in half (and then I'd be itemizing again), unless Congress renews that part of the tRump so-called tax cuts, but I'm 99.99% certain Congress will act to maintain that provision.
(Note: when the tRump tax cuts doubled the standard deduction, they took away the personal exemption which was almost as large as the change in the standard deduction, but the media and message board pundits hardly ever mention that).
On deducting state income taxes from federal: I should note that it is also subject to a $10,000 cap on state and local taxes (the infamous SALT deduction cap that the greedbangers came up with as part of the so-called tRump tax cuts to punish blue states with relatively high tax rates who strive to provide a better-than-bare-bones safety net and do other blue-statey things like provide money to help out poorer school districts whose property tax base is weak). A thread on the SALT deduction cap: https://www.democraticunderground.com/10143355690
A negative: when paying taxes early, one foregoes the interest one can earn in the meantime, like 5% or so APR in a money market fund for example, so that would be a little over 0.4%/month. $4 bucks per $1,000. Or the potential of a larger amount if invested in equities.
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