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seacilian
New Member

Should I reduce amount of federal taxes withheld from my IRA now that the standard deduction has doubled?

 
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Should I reduce amount of federal taxes withheld from my IRA now that the standard deduction has doubled?

Possibly. But be aware that there are no longer any Personal Exemptions ($4,050 per person), so take that into account.

And remember your state taxes.

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2 Replies
Carl
Level 15

Should I reduce amount of federal taxes withheld from my IRA now that the standard deduction has doubled?

Personally, I wouldn't change a thing until after I have filed my 2018 tax return in 2019. That way I will "KNOW" for a fact what I need to do.

Should I reduce amount of federal taxes withheld from my IRA now that the standard deduction has doubled?

Possibly. But be aware that there are no longer any Personal Exemptions ($4,050 per person), so take that into account.

And remember your state taxes.

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