2018 Tax Changes Simplified

Can someone just tell me the jist of the tax changes? This is what this video is about. There are of course many many changes but you might wonder about what …

source YouTube


  1. Can we no longer count sales tax? What if I am still working and started receiving my Social Security at age 66 (last year)? The new form doesnt give you a credit or discount for being over 65 anymore.

  2. Looking at the IRS tax guide for 2018 ("pub17.pdf"), I found that the SALT cap is not $10,000 per filer for a total of $20,000 for the couple but it is $10,000 except for married filing separately which is $5,000 (each, I assume). Am I reading this wrong?

  3. If you have no Loans are married own One home take the 24K standard deduction you will win, if you have 4 or more children you will loose, very hard for single people They didn't do all this because it would help everyone they did it to get money into our government and pay off some of the debt USA has. It's very hard in this time we live in.

  4. Interesting point on filing married jointly…
    should my wife and I file married separately to take advantage of 2 * $10,000 = $20,000 max cap?? Does it work like this? She does not work(no income) thanks for your help!

  5. Just confused me a little bit, but how is having a lower total amount less than $12,000 in itemized deductions against the standard deduction considered winning lol.

  6. This kinda sounds like a whine for not getting the full property tax deduction because you chose to live in that freak show called Cali or NY/NE. Ditto for mortgage deduction. Std deduction for married couples is now 24000/yr which is fantastic. Taxes will now be alot easier for those mortals that didnt buy the coastal fantasies.

  7. ok i have sold my house, and quit my job and lived off the 1200.00 a month, I did claim that as income every year. Now that its paid off and I am now on 644.00 s.s income. All in all I have made including the 9 months of 1200.00 this year I have made like 15,500.00 do i have to claim income tax?

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