Kansas City, MO - Due to the biggest tax law change in history, everyone is going to see the difference when filing taxes this year.
CPA Peter Newman says the biggest change is in itemization due to the increase in standardized deductions.
"When we talk about itemized deductions now, we're talking about things like taxes, we're talking about donations, we're talking about interest on home loans..."
For most Americans, the standardized deduction is 14 thousand dollars, but Newman warns, no one will want to attempt doing taxes on their own this year.
He explains, tax payers are going to need the benefit of a tax professional because of the change not being a simple as everyone thought it would be, and it will effect the processing of tax returns.
Newman warns, not to wait until the last minute to file this year. It may take extra time to sort out the changes. And wait to file until your W2's and 1099's have arrived.