SFG Tax Tips - January 29, 2018

Chad Hassinger |
Categories
Tax Planning

By Colleen M. Henes, CFP®, JD
Financial Advisor, Advanced Planning

January 29, 2018

"The new Tax Cuts and Jobs Act keeps the medical expense deduction and temporarily lowers the threshold for the deduction to 7.5% of your AGI for 2017 and 2018 only. If you have elective medical or dental procedures, you may want to consider paying for them this year if you will be itemizing your deductions. The medical expense threshold increases back to 10% of your AGI in 2019. If you are unsure whether you will be itemizing, click here to review the new standard deductions and tax rates for your filing status."

 

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