Credit to Accounting Today, at their slideshow:  Tax Reforms and 2019 Returns, where you can find more detail.  If you need further information, please talk to your friendly accounting professional.  The purpose of this post is to get you started and to provide a quick resource for 2018 planning.

1. Individual Rates7 new brackets – 10% to 37%
2.  Standard Deduction$24K MFJ – $18K HOH – $12K S
3. SALT – State & Local TaxesCapped at $10K deduction
4.  AlimonyNON-deductible to payer/tax-free to the recipient (N/A in Indiana)
5.  Moving ExpensesENDED – except for active-duty military
6.  Individual AMT$109,400 MFJ – $70,300 S – $54,700 MFS – PO/$1M
7.  Child Tax Credit$2,000 each qualifying child
8.  Kiddie TaxTaxed at Trust and Estate rates
9.  Affordable Care ActMandate repealed effective 2019
10.  Roth ConversionsProhibited if previously from Roth
11. Pass-Through IncomeSection 199A – OWNER can deduct 20% (restrictions apply)
12.  Itemized Deduction POENDED
13.  Medical ExpensesFloor lowered to 7.5% (from 10%)
14.  Charitable ContributionsMax at 60% of AGI – acknowledgements required
15.  COLA (Cost of Living Adjust)Reduced – converting indexing to CPI indexing
16.  Like-Kind ExchangesReal Estate ONLY
17.  Employee AwardsLIMITED tax free
18.  Student LoansDischarges excluded from income @ death or disability
19.  Mortgage Interest DeductionMAX $750K – Acquisition financing + improvements only
20.  Theft & Casualty LossesEliminated, except for Presidential disaster areas
21.  Misc. Sched A DeductionsENDED
22.  Gambling LossesLimited to extent of winnings
23.  Self-created WorksRemoved from definition of Capital Assets

Key to abbreviations:  PO = Phase-out, MFJ = Married filing jointly, MFS = Married filing separately, S = Single

NOTE – Most tax law changes are set to expire in 2025.  As usual, Congress can or extend these provisions at any time.

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