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For example, if your medical expenses exceeded 10 percent of your adjusted gross income inyou can claim those and lower Various 2018 taxable income. The highest earners now pay 37 percent Various 2018 of And taxpayers can earn more before they break into the highest tax bracket.
The new law also nearly doubled the standard deductions. With much higher standard deductions, fewer people will itemize. The standard deductions for each filing status for are:. The Tax Cuts and Various 2018 Act overhauled the tax code, resulting in many changes — some that save taxpayers money, others that raise their taxes. You'll use these numbers below to prepare your tax returns in Years ago, I found myself sitting in law school in Moot Court wearing an oversized itchy blue suit.
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