So I spent a whole hour of time last night beginning my 2018 federal tax return. Having received my wife and I's W2s I was kind of excited as I considered the prospects of a better tax result for our family in 2018. The increased standard deduction (we were close to the new standard amount with itemization in 2017) and rate decreases are cool but the doing away of the person exemptions sucks. Basically from what I can tell so far, my tax situation improves none, and may even be worse than prior years. That is strange to me because I have heard a lot about the good the tax law changes will bring. Still a lot of detail for me to wade through though so hopefully my initial high level view is off.
Disclaimer: I chose off topic to keep this about 2018 tax return filing and how it goes for others but I am well aware this teters on the edge of a political topic.
Disclaimer: I chose off topic to keep this about 2018 tax return filing and how it goes for others but I am well aware this teters on the edge of a political topic.