LIFE’s Vintage Newsmagazine March 19 Page 27

DOLLARS & SENSE ,I\RXDUHUHWLUHGDQGWKLQNLQJDERXW\RXUWD[VLWXDWLRQf;\RXPD\ZRQGHUZKDWWKHUHYLVHGWD[ODZZLOOPHDQ IRU\RX0RVWRIWKHFKDQJHVIURPWKHWD[ODZZHQWLQWRHIIHFWLQ b;7KHQHZWD[EUDFNHWVf;WD[UDWHVf; UXOHVIRULWHPL]HGGHGXFWLRQVFRXOGDOOLPSDFWUHWLUHHV$WWKHVDPHWLPHf;WKHODZOHIWWKHUXOHVIRU FDSLWDOJDLQVf;WD[ORVVKDUYHVWLQJf;6RFLDO6HFXULW\DQGUHTXLUHGGLVWULEXWLRQVXQFKDQJHG Will senior citizens still get a higher standard deduction? Perhaps the most important tax rule change for many retirees will be the increase in the standard deduction. For older taxpayers who don’t carry a mortgage and have limited deductions, that standard deduction is often more valuable than itemized deductions. That will be the case for even more people, as…

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