Did You See A Change In Tax Liability?
Ahead of the 2020 tax season, SMART is gathering detailed information on how the tax changes signed into law in December 2017 have been affecting our members.
Under that plan, which went into effect for tax year 2018, one key change was the elimination of nearly all formerly allowable deductions for unreimbursed employee expenses. That means, among other things, that construction, railroad, production or transit workers can no longer itemize and deduct any of the following unreimbursed work-related expenses:
• Safety gear
• Clothing required for work, including steel-toed boots
• Mileage driving from one worksite to another (including
• Mileage driving to buy tools or materials for a job
• Hotel stays during employer-required re-locations or
• Meals during employer-required re-locations or
The new tax laws also eliminated deductions for state and local taxes, but nearly doubled the standard deduction. Whether those changes result overall in tax cuts or tax breaks for SMART members depends on individual tax situations, which vary greatly.
How have these and other tax changes affected you and your family? Did the elimination of deductions for unreimbursed employee expenses impact you? Did you pay more or less in 2018? If you had a refund, was it bigger or smaller? What do you anticipate for your 2019 taxes?
Let us know at email@example.com or visit this link: https://www.facebook.com/smartunion/photos/a.383672653313/10156780325048314/?type=3&theater