2018 Tax Updates!
The Tax Cuts and Jobs Act (TCJA) and Bipartisan Budget Act of 2018 has caused the biggest change in the American tax system in 30 years. 9 Personal Deductions and Credits Eliminated or Decreased Many popular deductions claimed on personal income tax returns have been eliminated or decreased for the 2018 tax filing season. 1. Personal Exemption: You will no longer be able to take a deduction for yourself, the taxpayer, or your dependents. 2. Alimony: If your divorce is finaliz