Top 10 Tax Deductions Eliminated or Limited for 2018

Tax Deductions Eliminated

As federal employees and retirees collect their 2018 tax records and information in preparation to file their 2018 federal and state tax returns that are due April 16, 2019, they should be aware that several tax deductions available in 2017 have been eliminated or reduced for 2018.

Tax changes for 2018

The tax law has been revised. Here are some provisions that might impact your tax bill: A Higher Standard Deduction –  Approximately, 70 percent or so of households do not file an itemized federal tax return. The standard deduction in new tax bill nearly doubles the standard deduction. It goes to $12,000 for an individual, $18,000 […]