Reply To: The New Tax Law – 2018 – How it affects frum families

For children under 17 you are better off with the extra $1,000 credit than the $4,050 exemption for any income up to $315,000/year for married filing joint. The extra child tax credits for the kids 17 and under, in addition to the lower rates and the new higher standard deductions, probably mean the overwhelming majority of large frum families are much better off overall even with the loss of the exemptions for children 17 and older.

And then there’s the new 529 accounts for Yeshiva tuition.