Do I Need to Claim My Dependents on My 2018 Tax Return?

The Tax Cuts and Jobs Act passed on December 22, 2017 made many changes to individual taxes beginning in 2018. One of those changes was the elimination of a deduction for personal exemptions and replacing it with a higher standard deduction.

The question becomes, if I don’t get a deduction for my dependents, is there any reason to list them on the return? The answer is: absolutely yes.

Sex as a Medical Expense?

Taxpayers are always asking their CPA what they can deduct to save on taxes. Some deductions seem pretty straight forward (home mortgage interest, charitable contributions, etc.). Others are much grayer […]