Document Type

Radio Broadcast

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Publication Date

9-11-2018

Abstract

Standard Deduction versus Itemized Deductions Under the Tax Cut & Jobs Act: Taxpayers can either itemize deductions or take the standard deduction. For 2018, the standard deduction has increased, while certain itemized deductions have been eliminated. As a result of the Tax Cut & Jobs Act recently signed into law in 2017, 90% of all taxpayers will likely use the standard deduction and, therefore receive no tax benefit for itemized deductions such as the home mortgage interest deduction.

Comments

Professor Francine Lipman brings the City of Las Vegas invaluable tax tips & traps for the unwary in this weekly morning radio spot “Tax Talk Tuesdays” on KUNV Radio 91.5 F.M. Topics change weekly and include IRS phone scams, information on offers in compromise, higher education benefits, veterans’ disability severance payments, and many more issues affecting many taxpayers.

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