The New Tax Code And You – Deductions

As most of us know, there have been drastic changes to the income tax system taking effect this year, thanks to the Tax Cuts and Jobs Act, otherwise known as the Republican tax reform.

This is the first in a series of special articles to guide you through the most important changes, and show you where you may be able to maximize your refund or save money on your tax payments this year.

Did you know that the federal tax code is 6600 pages long? Or that there is another 70,000 pages and growing of case law around it, interpreting, expanding and attempting to clarify these rules? And despite being an attempt to simplify tax law, this year’s legislation is likely to lengthen the code even further, rather than making it less, well, taxing. Read more…

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