View Single Post
Old 10-03-2018, 10:52 AM   #143
webmaster
Moderator
 
webmaster's Avatar
 
Join Date: Jun 2002
Posts: 2,184
Blog Entries: 1
Thanks: 326
Thanked 2,775 Times in 657 Posts
Default

I'm surprised that no one has mentioned that the standard deduction for a married couple has doubled to $24,000 for 2018 (add $1,300 for each spouse age 65 or older). Even though the tax deduction is capped at $10,000 that additional $12,000+ standard deduction will help offset additional taxes that can't be deducted any more. That should help a lot of people. I guess we'll see since none of us have actually done our taxes yet for this year under the new tax plan.
webmaster is offline   Reply With Quote