Sentences with phrase «double under the new tax law»

The standard deduction will nearly double under the new tax law but, again, that doesn't take place until the 2018 returns.

Not exact matches

A third of New Yorkers itemized their federal tax filings last year; the number is expected to sharply decline with the near doubling of the standard deduction level under the new federal lNew Yorkers itemized their federal tax filings last year; the number is expected to sharply decline with the near doubling of the standard deduction level under the new federal lnew federal law.

Charitable donations are still going to be deductible under the new tax law, but with the loss of the state income tax deduction and the doubling of the standard deduction, many people will be claiming the standard deduction instead of itemizing in the future.