topic 2018 TAX YEAR AND ITEMIZED DEDUCTIONS in Deductions & credits

2018 TAX YEAR AND ITEMIZED DEDUCTIONS

jdejardin21 — Mon, 03 Jun 2019 18:38:16 GMT

I was told by a tax attorney that with the new tax laws going into effect for filing taxes in 2019 for the tax year 2018 ... 90% of the american middle and lower class will no longer be itemizing deductions for medical and charity deductions because those claims will already be built into the system. Is this true and if so, does it even help us to make charitable donations anymore (other than helping the needy that is)?

It is true that there are estimates that 90% of us will n...

SweetieJean — Mon, 03 Jun 2019 18:38:17 GMT

It is true that there are estimates that 90% of us will now use the new higher Federal Standard deduction.

Charitable contributions might still help on your State tax return, though. And see QCD if you are at or near retirement age.https://www.kiplinger.com/article/taxes/T054-C032-S014-qdcs-a-strategy-to-get-more-from-2018-rmds.ht...