By MOAA Staff
As mid-April approaches, many Americans come to the same disheartening revelation: Those tax forms will not fill themselves out.
If you've put off your IRS engagement long enough, MOAA can help you understand some of the changes to the federal tax code you may run into this year thanks to the Tax Cuts and Jobs Act, which became law in 2017 but will affect your 2018 return.
This five-part series - written by Col. Curtis Sheldon, CFP, EA, and retired Air Force fighter pilot - covers all the bases:
- Deductions, Exemptions, and Credits. Know what's been increased, what's been eliminated, and what new credits are in place.
- What's New for Homeowners. Major changes to mortgage interest rules, as well as home equity interest.
- 7 Eliminated Deductions. From travel expenses to uniform items, know before you (try to) write off.
- The Alternative Minimum Tax. Why you may no longer fall under the AMT banner.
- Pass-Through Income for Small Business Owners. Self-employed and independent contractors, take note.
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