Hey Thump,
Will the new tax changes allow you guys to file a standard deduction this year? If I did the math right, we are gonna come out much better than we did last year :-)
Seniors can still grab this tax break under the new tax law: the additional standard deduction.
The "Tax Cuts and Jobs Act," which President Donald Trump signed into law on Dec. 22, doubles the standard deduction to $12,000 for single filers and $24,000 for joint filers who are married.
The legislation also leaves intact the additional standard deduction for filers who are 65 and over or blind, allowing them to claim an additional $1,300 when they file their 2018 taxes.
This means that two married taxpayers who are both over 65 can lower their taxable income by an extra $2,600.
Single filers who are blind or over 65 are eligible for a $1,600 additional standard deduction, on top of the $12,000 they get from the new tax law.