• Posted By M. Law
    Monday, December 04 2017 at 1:07 PM
    Increasing the standard deduction and eliminated exemptions is a tax increase for just about anyone with more than a few dependents. The new dependent credit does little to make up the gap either.
  • Posted By Colin17
    Monday, December 04 2017 at 10:05 AM
    @ RJA If your itemized deductions were around $7,050, then yes, it appears that your taxable income would be a wash. However, the lower brackets would end up lowering your tax probably significantly.
  • Posted By RJA
    Monday, December 04 2017 at 9:01 AM
    Increasing the standard deduction while eliminating exemptions basically does nothing.