Tax reform ushered in major changes for the U.S. taxation system for the 2018 tax year, with the Tax Cuts and Jobs Act introducing new rates and brackets, expanded deductions and credits, and new limits on certain tax breaks. You probably had to do some pretty substantial tax planning to cut your tax bill due this spring, by taking full advantage of these adjustments.
While the 2019 tax year is shaping up to be much quieter in terms of big tax-law changes, you can’t afford to get complacent. Every year, American tax law sees some changes, and keeping up with the latest events can prevent you from paying the government more than you have to. Here’s a comprehensive look at how to make the smartest possible tax plan for the 2019 tax year.