Tax Time!!! Some do it early, some later...but it's best to be prepared and 2018 has some significant changes that could affect you.
Child tax credit: The child tax credit has been raised to $2,000 per qualifying child, those who are under 17, up from $1,000. A $500 credit is available for dependents who do not get the $2,000 credit.
Standard deductions: Those who are married and filing jointly will have an increased standard deduction of $24,000, up from the $13,000 it would have been under previous law.Single taxpayers and those who are married and file separately now have a $12,000 standard deduction, up from the $6,500 it would have been for this year prior to the reform.For heads of households, the deduction will be $18,000, up from $9,550.
Estate tax: The estate exemption doubles to $11.2 million per individual and $22.4 million per couple in 2018.
Just to name a few!
Take a look at some other big changes in the full article from CNBC
Photos: Getty Images, Article: CNBC