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cpsander
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Hung up on twice. why is the SD recommended and nothing has changed and I am now paying >$2000. please help. Chris

 
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Hung up on twice. why is the SD recommended and nothing has changed and I am now paying >$2000. please help. Chris

While nothing has changed for you, there have been significant changes to the tax laws, many impacting the decision to take the standard deduction or itemize.

The standard deductions have increased; it is $12,000 for single filers and $24,000 for married filing jointly.

At the same time, the itemized deduction for state/local/property taxes is now capped at $10,000, job related expenses are not longer allowed and casualty losses must have been in a federal declared disaster area.

The elimination of the personal exemption is also having a great impact on taxpayers.

For more information, follow this link: How Will Tax Reform Affect My 2018 Taxes

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