Certified Public Accountant

Medical expense deduction – 7.5% for 2018; 10% for 2019 and afterwards

SALT (State and Local Tax) maximum - $10,000 for all

Mortgage interest deduction - $750,000 mortgage debt limit for interest; home equity
interest discarded

Casualty loss – only federally declared disaster area

Charitable contributions – 60% of AGI; mandatory Contemporary Written
Acknowledgement (CWA) from the charity for contributions of $250 or more

 

Miscellaneous itemized deductions – no longer deductible; Lost deductions:

Employee business expenses
Investment expenses
Tax return preparation fees
 

Qualified business income deduction – 20% of pass-through income with limits

Child Tax Credit – increased amount; children must have SSNs

Other Dependents Credit – new $500 credit for qualifying relative

Moving expenses – only for military

Kiddie Tax – taxed at trust rates instead of parent's rate

Alternative Minimum Tax – higher threshold

Affordable Care Act – individual responsibility payment repealed in 2019 forward