Investment Updates
A Guide To The New Rules On Tax Deductions In 2018
Published Friday, March 30, 2018 at: 7:00 AM EDT
Uncle Sam giveth, and Uncle Sam taketh away. The new federal tax code, which went into effect in 2018 and affects the return you'll file in spring 2019, lowers taxes by expanding some deductions, but restricts or outright eliminates others.
Deductions lower your taxable income so you pay less tax. Here's how deducting items from your income were expanded, restricted, or eliminated.
EXPANDED DEDUCTIONS
This article was written by a professional financial journalist for Advisor Products and is not intended as legal or investment advice.
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