Under the new Tax Cuts and Jobs Act (TCJA), Form 1040 will have a completely different look in the 2018 tax year. The TCJA eliminates many deductions, scales back others and actually enhances a couple of others. But the changes are generally effective for 2018, so write-offs on 1040s for 2017 will reflect prior law. This series summarizes the key deductions your clients may be able to claim.
Vintage 2017 Tax Deductions
Jan 10th 2018
In the eleventh hour, Congress didn’t repeal the deduction for medical and dental expenses as part of the Tax Cuts and Jobs Act (TCJA), as...
Jan 17th 2018
Despite an eleventh-hour reprieve from Congress, this may be the last year many taxpayers deduct their state and local tax (SALT) payments...
Jan 5th 2018
Under the new tax reform law – the Tax Cuts and Jobs Act (TCJA) – many itemized deductions are being eliminated or curbed, beginning in...