What the 2018 Tax Year Means for Young Families
As people have settled into the tax year, it is easier to examine the new Tax Cuts and Jobs Act (TCJA) that was passed in December 2017 and went into effect the beginning of January. This new tax bill includes a myriad of changes that affect young families. Here are four of the most important takeaways:
LARGER STANDARD DEDUCTIONS
Courtesy of IRS
Beginning in 2018 and continuing through 2025 when they phase out, TCJA nearly doubles
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