5 Tax Deductions That Could Save You Big Bucks in 2018
When you file your taxes with the IRS by April 18, 2018, the return you file may be the last you submit under current tax rules. Congress is working hard on a tax bill they're hoping to pass before Christmas that would fundamentally alter the way many Americans do their taxes.
Popular deductions are on the chopping block or subject to major modifications in the tax plans under consideration, and a big increase in the standard deduction means more people are likely to itemize than ever before.
Since the future of tax reform remains up in the air, developing your tax strategy for income you'll earn in 2018 will need to remain on your to-do list until a final tax bill passes. But, since current rules remain in effect for the return you'll file in 2018 on last year's income, you have plenty of chances to take advantage of deductions that could net you a larger refund.
Source: Fool.com
