Related: 6 retirement industry changes to monitor

Some changes are positive, some are negative and some are mixed. Careful consideration will be needed to determine which is which for each household.

Here are 10 of the changes Kiplinger highlights:

10. Supersized standard deduction; loss of personal exemptions.

The standard deduction is almost double under the new tax law, rising from $6,500 for individuals and $13,000 for married couples filing jointly to $12,000 for individuals and $24,000 for those married-filing-jointly couples.

It's expected that more than 30 million taxpayers will abandon itemizing in favor of the new standard deduction, since it's expected to cut their taxable income by more than their itemized deductions would.

And why go through the hassle if you don't have to?

But the kicker for those aged 65 and older is even bigger: Their standard deduction will be bigger, too. It could behoove retirees to make the switch from itemized to standard because their standard deduction will be even bigger than that for younger folks.

They get to add another $1,300 (married) or $1,600 (single) to the basic amount. A married couple in which both spouses are 65 or older will get a 2018 standard deduction of $26,500.

But beware: this can be a mixed blessing. There are no personal exemptions under the new law, so a married couple with no kids will lose out on what was expected to be the 2018 exemption of $4,150. So they may get an $11,000 rise in the standard deduction, but lose $8,300 in personal exemptions.

9. Squeezed state and local deductions.

Retirees who bought a second home to use during retirement will not like this one.

Even those planning to retire, who may have decided they want to live in the mountains or near the sea and have bought a home they plan to retire to, may find themselves changing their plans, depending on how costly this provision is to them.

The new law, says Kiplinger, limits state and local income, sales and/or property taxes in a single year to $10,000.

For those who live in a high-tax state, this could kill dreams of retirement to that second home, especially if one is already on the hook for the first home for thousands more than anticipated.

If you can't afford taxes on two residences, this could do a number on your plans.

It could also make the decision easier on whether to itemize, especially considering that new standard deduction. Not being able to deduct those extra taxes could make it impossible, or at least impractical, to itemize.

8. The end of FIFO.

Prior to the tax bill, investors who bought stock and mutual fund shares at different times and different prices could choose which shares to sell in order to produce the most favorable tax consequences.

They still can — no thanks to the Senate.

The flexibility to direct one's broker to sell shares with a high tax basis to limit the amount of profit reported to the IRS or, if the shares have fallen in value, to maximize losses to offset other taxable gains, can be particularly valuable to retirees divesting holdings purchased at different times over decades, says Kiplinger.

The Senate wanted to eliminate that flexibility by imposing a first-in, first-out or FIFO rule that would assume the oldest shares are first to be sold.

Since older shares would be more likely to have a lower tax basis, this would have raised the amount of profit investors would have to pay taxes on.

But during all the negotiations, that ended up being left on the cutting room floor, so seniors can still be flexible about what they sell and when.

7. Loss of deduction for investment management fees.

Just as the Department of Labor's fiduciary rule kicks in to oblige advisors to act in the best interest of their clients, which has been pushing many to a fee structure rather than a commission structure, the tax bill comes along and eliminates the deduction for investment management fees.

Before the law's passage, those fees could be deducted as a miscellaneous itemized deduction to the extent that all qualifying miscellaneous expenses (including fees for tax advice and employee business expenses, for example) exceeded 2 percent of one's adjusted gross income.

But no more; Congress abolished all writeoffs subject to the 2 percent floor.

6. Stretch IRA lives on.

One change that almost happened but in the end did not was the elimination of the "stretch IRA," the rule that lets heirs spread payouts from an inherited IRA over their lifetime.

Congress considered a move that would have forced heirs to clean out inherited IRAs within five years of the original owner's death, thus accelerating the payout as well as the IRS's collection of tax on the distributions.

The stretch IRA is still available, as long as heirs follow the rules.

5. Survival of the 0 percent capital gains rate.

The 0 percent capital gains rate often becomes available to retirees once their income drops in retirement, so this is good news for them.

In the past, eligibility to use the 0 percent rate depended on which tax bracket you were in, but the new tax law has changed that to use income thresholds instead.

The rates of 0 percent, 15 percent, 20 percent or 23.8 percent now apply depending on income level rather than tax bracket.

"For example, for 2018," says Kiplinger, "the 0 percent rate for long-term gains and qualified dividends will apply for taxpayers with taxable income under about $38,600 on individual returns and about $77,200 on joint returns. The 20 percent rate applies to investors with taxable income exceeding $479,000 on joint returns and $425,800 on single returns. The 15 percent rate applies for investors with incomes in between."

4. Conversions can't be changed.

You could, if you'd done it last year, have reversed the conversion of traditional IRA to a Roth, and eliminated the tax bill—if you'd "recharacterized" the conversion by October 15 of the year following the conversion.

That could have paid off if, say, your Roth lost money once you converted; at least you wouldn't have insult added to injury by having to pay taxes on money that just wasn't there any more.

But not now. As of 2018, once you convert, you're stuck. So be sure before you take action.

3. No more home equity line of credit deduction.

If you were planning on augmenting retirement income with a home equity line of credit, beware; you won't be able to deduct the interest on that loan.

The news gets worse; the deduction ends for existing loans, too. Immediately.

2. QCDs look more attractive.

One thing the new law didn't do is end qualified charitable donations made directly from IRAs to qualifying charities by taxpayers aged 70½ and older.

Not only do QCDs count toward an IRA owner's required minimum distributions, but the payout doesn't show up in taxable income. Canny use of QCDs can preserve a tax benefit for charitable giving even in the face of the new standard deduction.

As taxpayers increasingly claim the standard deduction instead of itemizing, QCDs can give them an extra tax benefit.

1. Expanded medical expense deduction.

Congress threatened to eliminate the medical expense deduction altogether—but, as seems to be the way with this Congress, it did an about-face and gave the deduction a broader reach.

Before, not that many people qualified for the deduction, which kicked in only when qualifying expenses exceeded 10 percent of adjusted gross income. This was usually the province of lower-income retirees with high medical bills.

Now, however, the threshold has been reduced—for both 2017 and 2018 only—to 7.5 percent of AGI. But take it now, since in 2019 it goes back to 10 percent.