2018 Tax Law – What Happened to the Personal Deduction?

In 2018, the Personal Deduction is gone.  Poof.  Vanished.

Why do you care?  Well, because it let you deduct $4,500 of your taxes for yourself and every dependent.  So if you have a lot of dependents, you’re going to take a hit under the new tax law.

Will that be balanced out by the overall lower rate?  That depends on your specifics.  We can help you figure that out.  Contact Tax Ninja for a consultation