3 Big TCJA Changes Affecting 2018 Individual Tax Returns and Beyond

/ Posts Tagged "itemized deduction" (Page 2)

3 Big TCJA Changes Affecting 2018 Individual Tax Returns and Beyond

0 Comments
February 12, 2019 , , , , ,

When you file your 2018 income tax return, you’ll likely find that some big tax law changes affect you — besides the much-discussed tax rate cuts and reduced itemized deductions. For 2018 through 2025, the Tax Cuts and Jobs Act (TCJA) makes significant changes to personal exemptions, standard deductions and the child credit. The degree to which these changes will affect you depends on whether you have dependents and, if so, how many. It also depends on whether you typically itemize deductions.
Read More

Investment Interest Expense is Still Deductible, But That Doesn’t Necessarily Mean You’ll Benefit

0 Comments
January 31, 2019 , , , ,

investment interest expense

As you likely know by now, the Tax Cuts and Jobs Act (TCJA) reduced or eliminated many deductions for individuals. One itemized deduction the TCJA kept intact is for investment interest expense. This is interest on debt used to buy assets held for investment, such as margin debt used to buy securities. But if you have investment interest expense, you can’t count on benefiting from the deduction.
Read More