Everyone's Talkin' Money Waive Bye Bye To These Tax Deductions In 2018
If you’ve filed your taxes before, or if you're a business owner ,you certainly love all those tax deductions. Why? They help reduce your taxable income and can potentially bump into a lower tax bracket on occasion. BUT…some of those tax deductions we used to love are now gone – they flew out the window on January 1, and who knows if there ever coming back.
On This Podcast Episode:
- Get an understanding of why tax deductions are so popular
- I'll discuss what homeowners and future homeowners need to know
- We loved personal exemptions, why did they go away
- Learn what job related deductions have gone away
- If you pay or receive alimony payments it's all changed (FYI - For spouses who divorce before 2019, these rules will not affect them, but spouses who divorce after Jan. 1, 2019, the new rules will apply. For divorces that happen before Dec. 31, 2018, spouses who receive alimony payments will need to pay taxes on it and spouses who pay alimony will be able to deduct it.)
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