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Strategies & Market Trends : Value Investing
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To: Keith J who wrote (60233)12/25/2017 2:35:40 PM
From: Paul Senior  Read Replies (2) of 78958
 
OT: I'm still not entirely sure what/when the tax changes take effect. Need to do a little more confirming research.

If it's so that the $24K standard deduction begins in effect in 2018 for 2018 taxes to be filed by April 15, 2019 for income earned in 2018, that's one thing.

If though the tax changes for itemized deductions are effective immediately for 2017 income and income taxes to be paid by April 15 of 2018, that's another thing.

If it's the first, then I still have a week to make a chunk more of charitable contributions that I'd like to make and itemize them, and get the tax deduction.

But if it's the second, I'm done for the year regarding charitable deductions, and when I file, April 2018, I expect I will be of those who just take the $24K deduction.
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