A Few Things You Should Know About the New Tax Bill
As you know, Congress and President Trump enacted a significant tax reform bill in December, so let’s briefly review how this new tax bill is going to affect individuals starting this year.
The biggest thing you’ve probably heard about is the increase in the standard deduction. Married filers will see a $24,000 standard deduction in the 2018 tax year, and single filers will see a $12,000 standard deduction. This doubles the prior standard tax deduction, which will help m