Categories: Curiosities

17 Clever Tips to Take Advantage of the New Tax Plan

HAVE FEWER CHILDREN/DEPENDENTS

The tax plan also eliminates personal exemptions, which let taxpayers deduct $4,050 for every taxpayer and dependent claimed on their return. This will be offset by a standard deduction increase to $12,000 for individuals — benefiting 47.5 percent of all filers — but that means taxpayers with three or more personal exemptions/dependents to claim will still pay taxes on a greater share of their income.

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