The new tax reform law, passed in December 2017, is the largest piece of tax legislation in nearly 30 years and changed several key tax provisions for taxpayers and families. But what do these changes mean for your taxes?
Most notably, the standard deduction nearly doubled ($12,000 single and $24,000 married filing jointly) and some tax deductions were either eliminated or reduced. Although some tax deductions, like the dependent exemption, went away with the passage of the new tax reform law, there are still tax deductions and credits you can claim to maximize your tax refund.
Check out our infographic to find out what tax deductions are going away effective with your 2018 taxes (the ones you file in 2019) and more tax deductions and credits you can take in their place.