Higher Standard Deduction
In 2019, the standard deduction is $12,200 for single and $24,400 for married filing jointly filers. If you are over 65, the deduction is $1,300 higher.
But, that doesn’t mean you should stop tracking your deductions. You should calculate your taxes both ways to see which deduction is higher.
New Rules for State & Local Taxes
The Tax Cuts & Jobs Act imposed a $10,000 ceiling on the total amount individual taxpayers can deduct for state income tax, property tax, excise tax and sales tax.