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Client Tip: No Longer Tax Deductible

December 26, 2018

1. Personal exemptions You can no longer claim a deduction for yourself, your spouse or any of your dependents. Each personal exemption in 2017 provided a $4,050 tax deduction. For example, a family of four could deduct a total of $16,200 in addition to a standard deduction, itemized deductions and any adjustments to income. The […]

Filed Under: At A Glance, Client Tips, Pro Tips Tagged With: alimony, business expense, deductions, exemption, home equity, legal fees, loan interest, Robert D. Flach, Tax, Tax Cuts and Jobs Act

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