Redding CA Bookkeeping and Tax Service

2018 Personal Exemptions – Did You Know?

The Tax Cuts and Jobs Act of 2017 nearly doubled the standard deduction for most taxpayers, but eliminated personal exemptions for yourself, your spouse, and/or your dependents for at least the years 2018 through 2025.

The higher standard deduction may or may not make up for the loss of personal and dependent exemptions.

We recommend scheduling an appointment to go over your specific situation.

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