10% itemized

Most people are having some difficulty in keeping up with all the proposed changes in the tax law but the increased in the standard deduction from $12,000 to $24,000 for couples is easy to follow. Estimates say that with his change 90% of taxpayers will use the standard deduction and for the most part these are lower income people. The 10% who will continue to itemize are in the upper income groups. These are the people who use deductions like property tax, home mortgage interest, charity and state tax deduction. In other words the upper income people are the ones who are adversely affected by these changes.