With the passage of the Tax Cuts and Jobs Act of 2017, a number of popular tax deductions were either eliminated or limited. While many popular deductions went away, the standard deduction nearly doubled to $12,000 if you are single and $24,000 if married filing jointly.

However, there are still some tax deductions and credits you can take. US News & World Report created a list of 8 tax deductions you can still claim on your taxes and noted a few popular deductions that went away. Below is the summary list – Click Here to read the full article with explanations for each deduction!

Which Deductions Can You Still Claim on Your 2018 Taxes?

There are still plenty of money-saving deductions that you can claim on taxes filed in 2019. As you gather your receipts and prepare to file your taxes this year, be sure to keep these eight tax deductions in mind.

  • Mortgage-loan interest
  • Property tax
  • Self-employment deductions
  • Educator expense
  • Student loan interest
  • Relocation deductions
  • Charitable donations
  • Medical expenses

Which Tax Deductions Went Away?

  • Dependent exemption
  • Moving expenses
  • Casualty and theft losses
  • Unreimbursed employee expenses, including seminars, memberships and classes

If you have any questions or if you would like more information, contact Fred Schutz at (856) 722-5300 ext. 201 or Dave Gill at ext. 210.

Share this Post