Decreased or eliminated deductions for 2018 taxes
While the Tax Cuts and Jobs Act (TCJA) reduces most income tax rates and expands some tax breaks. It limits or eliminates several itemized deductions that have been valuable to many individual taxpayers. Here are five important deductions you may see reduced or eliminated when you file your 2018 income tax return: State and local tax deduction. For 2018 through 2025, your total itemized deduction for all state and local taxes combined — including property tax … Read more