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Originally Posted by graciegirl
All this is true. Those deductions have gone away, but we get to keep more of our income.
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That last sentence is not universally true as deductions of alimony and interest on home equity loans are gone as above reported. Nor will interest on new mortgages over $750K be deductible. The old limit was $1M. Plus the itemized SALT deductions for property tax and state sales or income tax are now capped at a mere $10K! It looks to me like the $150 to $500K earners will pay more tax.
Your Complete Guide to the 2018 Tax Changes -- The Motley Fool
On the other hand C corporation rates are way down which has already boosted the economy and publicly traded common stock valuations.
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Last edited by manaboutown; 01-23-2018 at 01:11 PM.
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