The Tax Laws have quite a few recent changes, here are 20 thing you should know.
Home Equity Line mortgage interest will no longer be tax deductible on a primary residence unless the funds are used for renovations.
• Single Filers: the new standard deduction has risen to $12,000.
• Married Joint Filers: the new standard deduction has risen to $24,000.
The $2,500 annual deduction for student loan interest will remain.
On the campaign trail Trump has said “I want to put H&R Block out of business”. Over time there will likely be less local professional accountants along with their advice, the community will likely suffer from this loss.