This is the deduction allowed according to filing status: Single, Married Filing Jointly, or Separate, and Head of Household: • $31,500 for married couples filing jointly • $15,750 for single filers and married individuals filing separately • $23,625 for heads of household

You can now only deduct up to $40,000 of some combination of a) state and local property taxes or b) state and local income taxes or sales taxes per year. For Married Filing Separate, the SALT deduction limit is just $20,000.

This year, as much as $1,700 of it is refundable. Phase-out thresholds for the credit have risen substantially. They are now set at the following modified adjusted gross income (MAGI) levels: • Single filer or head of household: $200,000 (was $75,000 in 2017) • Married couples filing separately: $400,000 (was $110,000 in 2017)

The list of disappeared deductions is long and includes the following tax breaks: • Home equity loan interest deduction • Moving expenses deduction • Casualty and theft losses deduction (for most taxpayers) • Unreimbursed employee expenses deduction • Subsidized employee parking and transit deduction • Tax preparation fees deduction • Investment fees and expenses deduction • IRA trustee fees (if paid separately) • Convenience fees for debit and credit card use for federal tax payments • Home office deduction for employees • Unreimbursed travel and mileage deduction for employees

Small businesses are growing specially under the new Gig Economy.(javascript:void(0)) The basic benefit is that business owners whose firms are LLCs, partnerships, S corporations, or sole proprietorships can now deduct 20% of qualified business income, which should reduce your tax liability. (Trusts, estates, and cooperatives are also eligible for the 20% pass-through deduction.)

The Affordable Care Act instituted tax penalties for individual taxpayers who went without health coverage. Adults who do not have qualifying health coverage will no longer face an individual minimum penalty of $695 this year. Also, no penalty for dependent children.