Whether you’re gearing up to file your taxes this year, researching what’s ahead for next year or simply contemplating the benefits to buying a house in the future, there’s a lot to consider.
Under the Tax Cuts and Jobs Act, which takes effect for tax filings for the 2018 calendar year, standard deduction increases will likely mean far fewer Americans will need to itemize their returns to receive the maximum amount of money back. As many as 27 million fewer taxpayers may need to itemize their taxes, according to an estimate from the Tax Policy Center.
