2018 Federal Income Tax By Allrates

As much as taxes might not be on your mind with the merriment of the upcoming festivities, it’s not too soon to start thinking about filing your 2018 tax return.

When it comes time to file your 2018 taxes, be mindful of changes from the Tax Cuts and Jobs Act of 2017. “For instance, miscellaneous itemized deductions are no longer available, the personal exemption has been eliminated, the SALT (State and Local Tax) deduction has been reduced, and more. This will interfere with you bringing your total taxes down when filing your tax return, especially if you’re in a higher tax bracket,” says Manisha Hansraj, a tax expert with Rapid Filing Services.

Joshua Escalante Troesh, founder of Purposeful Strategic Partners, believes 2018 will see a massive shift in how taxes are calculated for most Americans. “Not only did the recent tax reform bill adjust the tax brackets, but it also eliminated or limited most tax deductions and increased the Standard Deduction. As a result, the majority of people who previously itemized deductions will find the Standard Deduction now is a better deal.”

Continue Reading On AllRates.com

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *