Along with the standard deduction jumping to $24,000 for married filing joint taxpayers, the affect tax reform has on itemized deductions for 2018 and beyond means many more taxpayers will be taking the standard deduction. The change that will have the largest impact on most of us the limit on the combined deduction for state and local income, sales and property taxes which is capped at $10,000 total for married filing joint taxpayers; hurrying and paying those property taxes before January may no longer be a benefit. It all depends on your unique tax situation, other deductions, filing status, etc. Read on for other itemized deductions affected, and contact us with questions by phone, email, Facebook, LinkedIn, etc.
https://www.irs.gov/newsroom/tax-reform-affects-if-and-how-taxpayers-itemize-their-deductions
