Summary: It’s the most wonderful time of the year...to make sure you’re taking advantage of deductions that will lower your 2018 taxes. The math is different this year: the new tax law nearly doubled the standard deduction to $12,000 per individual and $24,000 for married couples filing jointly. As a result, experts predict that the number of taxpayers who itemize their deductions, rather than take the standard deduction, will drop from about 30% of all filers down to just 10%.
