The Tax Cuts and Jobs Act was signed into law by President Donald Trump on Dec. 22, 2017, and it’s being put into action starting with the 2018 tax year.
On the personal side, the final bill cuts income tax rates in almost every tax bracket, doubles the standard deduction, eliminates personal exemptions, doubles the child tax credit, expands medical expense deductions, repeals the Obamacare tax and doubles the estate tax exemption.
