Now that tax season is mostly wrapped up, we wanted to let you know about a change to the standard deduction for the 2018 tax year. Come April of next year, your tax liability might be significantly less. See, for a married couple, the standard deduction was raised way up to $24,000! This past year, the standard deduction was only $12,700 for the 2017 tax year! For many of you, that might mean no need to itemize anything. For others who never knew where to start with itemizing, it will mean a significantly lower tax liability.
But It’s Not Just The Standard Deduction Changing…
That’s not the only way to increase your refund check or decrease the amount you end up owning. The child and family tax credit also doubles to $2,000. The actual refundable portion goes up to $1,400. So, low income families might get a refund check, even without paying federal taxes. So, if you have one child, this tax credit automatically drops your tax liability by $2,000!
Together, these tax reform changes can mean the difference that helps some Indiana families finally be capable of buying a new home. An increased tax refund can put enough money in the bank so that families can finally afford the expenses of a move when they couldn’t before.
Are You Ready to Buy a New Home?
If you’re interested in moving to a community near Evansville or Jasper, Indiana, check out our listings. Become familiar with the area. Before you start shopping for a home in Indiana, it’s a good idea to explore areas you might like to live in — that way you can get a feel for what properties are available and how much you’ll need to spend. We’ll help you find homes for sale in the most beautiful parts of Indiana.
Let us know if you want us to be on the lookout for Evansville or Dubois County homes with solar arrays, geothermal systems or other green upgrades too!
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Thinking of Selling Your Dubois County Home?
On the other hand, if you’d like to sell your Dubois County real estate, we’d love to help with that too! We offer a completely FREE Comparative Market Analysis (CMA). Zillow’s zestimates can be off by as much as 12 percent! Obviously, to make any decisions, you need to know the actual value of your property, right? A 12 percent difference could be a deal breaker when it comes down to it. Yet, if you contact us today, we can get you a detailed report and the estimated value for your home based on today’s market. Plus, we can get that to you usually in less than one day. So, request your FREE home valuation for your Dubois County home today!
Contact Welsh Realty Corp. Today!