2019 Tax Filing Tips for Retirees
From the U.S. News & World Report website
As you get ready for taxes this spring, expect change. The Tax Cuts and Jobs Act, signed into law in 2017, brings adjustments for 2018 tax returns. Many of the law’s provisions will affect retirees, and potentially for the better in some cases. “The impact of the TCJA’s changes in the tax law could substantially reduce a retiree’s income tax liability,” says Mike Herzog, a tax attorney with Eckert Seamans Cherin & Mellott in Pittsburgh. To take the best approach, start early and discuss the changes with a tax professional. “Each retiree’s tax situation is unique and requires careful consideration,” Herzog says.
Here’s what retirees need to know about tax changes for 2018 returns:
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