Will I be able to itemize business deductions in 2018?
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New Member

Will I be able to itemize business deductions in 2018?

I need to get the lowest adjusted gross income. I always itemize deductions and my income is small business income. 

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New Member

Will I be able to itemize business deductions in 2018?

Because everyone's tax situation is different, the tax reform will affect everyone differently.  There may be changes that affect the expenses you are able to itemize, plus the standard deduction is increasing.  Therefore, it may turn out that the standard deduction is more than your itemized deductions so it could be that the standard deduction will become more advantageous.  TurboTax's TaxCaster app can help estimate your 2018 taxes.  

Click for TaxCaster

Plus, here are some resources for you regarding upcoming 2018 tax law changes:

https://ttlc.intuit.com/replies/6428896

TurboTax - Tax Reform Center

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