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On December 22, 2017, President Donald Trump signed the Tax Cuts and Jobs Act. These set of the laws will affect every American household and business starting January 1st, 2018. Here are 7 changes in the tax law that could affect you: 1. Standard Deduction The standard deduction almost doubled. Single taxpayers are allowed to have $12,000 of non-taxable income in 2018, while in 2017 this number was only $6,500. Those who are married and filing jointly will have $24,000 (201