Elimination of Misc. Itemized Deductions
The Federal tax reform passed in December has created changes to the tax rate and bracket structure, with an elimination of personal exemptions and certain itemized deductions. The changes were implemented for 2018, and will affect filing in spring 2019. That does not mean it is too early to start thinking about what this means for taxpayers. On today's show, Ralph reviews the various changes and effects to deductions set to take effect in the coming filing seasons.
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