Business, 09.10.2019 23:30, Lydiaxqueen

He tax cuts and jobs act passed in december, 2017, eliminated any personal exemptions ($4,050 per preson) but increased the standard deduction to $12,000 for single filers and $24,000 for joint filers beginning in 2018 compared to $6,350 and $12,700 respectively in 2017. ignoring any other changes made by the new tax law (and there are other important changes such as expansion of a child tax credit), what would the threshold for having any taxable income for a family of two adults and three dependent children be in 2018 compared to 2017? (hint: the threshold in 2017 was the standard deduction for a married couple with five personal exemptions.)

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He tax cuts and jobs act passed in december, 2017, eliminated any personal exemptions ($4,050 per pr...