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Tax Guy: How to game the new standard deduction — and 3 other ways to cut your 2018 tax bill

With year-end rapidly approaching, now is the time to take steps to cut your 2018 tax bill before it’s too late. Here are four foolproof year-end strategies to consider, taking into account changes included in the Tax Cuts and Jobs Act (TCJA).

1. Game the increased standard deduction allowances

The TCJA almost doubled the standard deduction amounts. The 2018 standard deductions are:

* $12,000 if you are single or use married filing separate status (up from $6,350 for 2017).

* $24,000 if you are a married joint-filer (up from $12,700).

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