Tax Reform An Overview of 2018 Tax Reform Changes [Infographic] Read the Article Open Share Drawer Share this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Pinterest (Opens in new window)Click to print (Opens in new window) Written by Lauren Thomas Published Nov 5, 2018 - [Updated Jul 3, 2019] 1 min read On December 22, 2017 the new tax reform law was passed, which will affect the taxes of most taxpayers beginning with their 2018 (the ones filed in 2019). If you’re wondering how you’re affected, don’t worry, we have your back and will be up to date with the latest tax laws so you can file your taxes with complete confidence. If you have questions, you can connect live via one-way video to a TurboTax Live CPA or Enrolled Agent to get your questions answered on demand. A TurboTax Live CPA or Enrolled Agent can even review, sign, and file your tax return. That being said, you may still be wondering what’s in the new tax law and how it might affect you. Check out our infographic that gives you an overview of some of the major tax provisions in the new tax law and helps you understand how they may impact you. Previous Post Last Call on These Popular Tax Deductions Next Post Does Tax Reform Impact How I Claim Standard vs. Itemized… Written by Lauren Thomas Lauren Thomas is an award-winning social media strategist and Senior Communications Manager at Intuit. By day she leads social media content and campaigns for TurboTax (and yes, that basically means she gets paid to scroll on TikTok). She can regularly be seen on the speaker circuit, inspiring marketing strategists everywhere. In her downtime, you can usually find her working on a passion project, binge-watching Netflix, or taking classes in everything from creative writing to improv comedy. More from Lauren Thomas 15 responses to “An Overview of 2018 Tax Reform Changes [Infographic]” Alissa was extremely helpful, and I am extremely happy TurboTax brought her on to help tax filers like myself this year! Thank you Reply Alissa was FANTASTIC!!!!! All of my issues resolved, I would recommend TurboTax to everyone!!! Could not have done this without them…. Alissa, if you see this, WAR EAGLE!! Reply I LOVE TURBO TAX! They make it so easy to do your taxes. I’ve been using them for several years now and I would never go anywhere else. Thanks Turbo Tax. Reply I understand that the new lower personal tax brackets are not permanent. When is the last year they are in effect, and to what levels will rates revert the following year? Reply i was wondering how it works if i have not worked a job and have become a full time student with pell grants and loans. should i file single or as a dependent of this household Reply Easy to understand. If learning about my taxes is this easy, I’d be happy to let someone else push now my lawn. Reply I have used Turbo Tax since 2011 and always found it great for tax return Reply Thanks for the info. It has all been very beneficial since that dreaded time of the year is now almost upon us. Reply Agreed. This was helpful Reply Thanks for the info. Do you have input regarding those still working and collecting Social Security/ how much tax from Social Security should be witheld? Percentage please? Reply always use turbo tax. We need to do amended for 2016 and file for 2017.I worked out of town both years and have $5000 in union fees.Didnt find a place to claim for 2016 Reply I’m on retirement/ SSD I GET $20,256 DOLLARS A YEAR . IM SINGLE AND 52 NO ITIAMIZED DETUCTIONS . IT SAYS IM RESPONSABLE FOR MY TAXES . IS THERE A TAX BREAK FOR ME ? MY HEALTH INS. COMPANY SAYS IM INTILED TO A 525 DOLLAR A MONTH TAX BREAK BUT THEY WANT IT FOR MY HEALTH COST INSURANCE . EVEN WITH THAT I CANT AFFORD MY COPAYS SO I WAS CANCELING MY HEATH INSURANCE AND DO MY OWN PAIN MANAGMENT . IS THAT TAX CREDIT ONLY FOR MY HEALTH INSURANCE ? Reply The info was very good. Thank you for keeping us informed. Reply You welcome Reply One of the worst changes in the tax laws which will hurt anyone who uses part of their home for business is the loss of the home office deduction that no one seems to be talking about, including Turbo Tax. Anyone who uses part of their home for business will no longer be able to deduct the cost of utilities, repair costs, etc, for their home office. This will cost me several thousand dollars in lost deductions. Lovely ! Reply Leave a ReplyCancel reply Browse Related Articles Crypto Understanding Crypto and Capital Gains Work 7 Things You Need to Know About the New Business Report… Work Using Form 8829 to Write-Off Business Use of Your Home Tax Tips Roth 403(b) vs. Roth IRA: Which Should You Invest In? 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Alissa was extremely helpful, and I am extremely happy TurboTax brought her on to help tax filers like myself this year! Thank you Reply
Alissa was FANTASTIC!!!!! All of my issues resolved, I would recommend TurboTax to everyone!!! Could not have done this without them…. Alissa, if you see this, WAR EAGLE!! Reply
I LOVE TURBO TAX! They make it so easy to do your taxes. I’ve been using them for several years now and I would never go anywhere else. Thanks Turbo Tax. Reply
I understand that the new lower personal tax brackets are not permanent. When is the last year they are in effect, and to what levels will rates revert the following year? Reply
i was wondering how it works if i have not worked a job and have become a full time student with pell grants and loans. should i file single or as a dependent of this household Reply
Easy to understand. If learning about my taxes is this easy, I’d be happy to let someone else push now my lawn. Reply
Thanks for the info. It has all been very beneficial since that dreaded time of the year is now almost upon us. Reply
Thanks for the info. Do you have input regarding those still working and collecting Social Security/ how much tax from Social Security should be witheld? Percentage please? Reply
always use turbo tax. We need to do amended for 2016 and file for 2017.I worked out of town both years and have $5000 in union fees.Didnt find a place to claim for 2016 Reply
I’m on retirement/ SSD I GET $20,256 DOLLARS A YEAR . IM SINGLE AND 52 NO ITIAMIZED DETUCTIONS . IT SAYS IM RESPONSABLE FOR MY TAXES . IS THERE A TAX BREAK FOR ME ? MY HEALTH INS. COMPANY SAYS IM INTILED TO A 525 DOLLAR A MONTH TAX BREAK BUT THEY WANT IT FOR MY HEALTH COST INSURANCE . EVEN WITH THAT I CANT AFFORD MY COPAYS SO I WAS CANCELING MY HEATH INSURANCE AND DO MY OWN PAIN MANAGMENT . IS THAT TAX CREDIT ONLY FOR MY HEALTH INSURANCE ? Reply
One of the worst changes in the tax laws which will hurt anyone who uses part of their home for business is the loss of the home office deduction that no one seems to be talking about, including Turbo Tax. Anyone who uses part of their home for business will no longer be able to deduct the cost of utilities, repair costs, etc, for their home office. This will cost me several thousand dollars in lost deductions. Lovely ! Reply