Monthly Archives: August 2018
What Happened to my Tax Exemptions?
Or: The TCJA giveth, the TCJA taketh away. One huge change in the tax code as a result of the 2017 TCJA (“Tax Cuts and Jobs Act”) was that there are no longer “personal exemptions”. Previously, each exemption worked — in addition to either the standard deduction or itemized deductions — to effectively lower one’s […]