Taxpayers can place up to $1,000 per year for an individual or $2,000 per year for a family or joint filing couple into pre-tax medical accounts (HSA/FSA accounts) for reimbursement of physical activity expenses.
Possibly the most important change is that the TCJA created a new 20 percent deduction for qualified business income from sole proprietorships, S corporations, partnerships, and limited liability companies taxes as partnerships.