#standard-deduction

#standard-deduction

The sprawling budget bill signed into law by President Trump includes many significant changes for consumers and the economy, especially regarding taxes. This bill extends provisions from the Tax Cuts and Jobs Act of 2017, making many tax cuts permanent.

For the next five years, there will be a much more generous state and local tax deduction available to federal income tax filers, thanks to the recently enacted mega tax-and-spending-cuts law.