In light of changes the 2018 tax law introduces this year, you might be thinking about modifying your financial behavior. Consider the following:

Although the mortgage interest deduction doesn’t go away, it likely will be overshadowed by the larger standard deduction you can take. For most of us, that means obtaining a mortgage no longer will be a tax advantage. The real estate company Zillow estimates only 1 in 7 homeowners will benefit from itemizing now; before the new law, it was about 1 in 2.

So should you buy a home? It depends. Without this built-in tax benefit, home prices might actually decrease, benefiting first-time homebuyers especially. But existing homeowners who were looking to “trade up” might think twice if their new mortgage will be more than $750,000 (which is not hard to do in some locales). The new law eliminates the deduction for any interest above that point. And if you were thinking of a home equity loan to finance that new kitchen you’ve been dreaming of, interest on those loans is no longer deductible at all.

Charitable contributions are treated similarly to the mortgage interest deduction — they’re still deductible but, unless you’re a very generous giver, you likely will be better off taking the standard deduction. Charitable advocates estimate that without this tax incentive, giving could drop a whopping $20 billion a year. Taxpayers might want to consider “bunching,” which means doubling up on contributions one year to the extent you can “beat” your standard deduction and then skip donating the next year. Continuing with this cycle will allow you to be benevolent and still reap some tax savings. (Learn more about selecting a charity in Be Smart About Charitable Giving)

Under the new law, if you’re self-employed or a freelancer, you might be able to shave 20 percent off the income you report to the IRS (read more in 2018 Tax Reform and What It Means to You). Previously, freelancers often were treated like the redheaded stepchild and had to pay more in payroll taxes than employees and weren’t eligible for employer-provided benefits like 401(k)s or health insurance. This law might now give freelancers favorite-child status because of this valuable new tax benefit. Additionally, many employee job-related expenses deemed nondeductible under the new law are deductible under the self-employed umbrella. It might be worth a discussion with your employer (who might also come out ahead because they’ll see reduced costs) as well as with your tax professional to see whether you should make the switch.