Because the deduction starts to phase out for single filers earning over $75,000 and married couples making over $150,000 — with full disqualification at incomes above $175,000 for individuals and $250,000 for couples — the Urban-Brookings Tax Policy Center projects that middle- and upper-middle-income households stand to gain the most.

It's not tax season, but now that Trump's spending bill is final, it's a great time to plan, experts say. Don't overlook these new benefits.