RV Loan Interest Deduction yes or no?
Hello all, I did some research and even read the actual text of the new tax law. Maybe I missed it but I have been unable to find a concise answer....So....Does anyone know if: 1. IS Second hom...
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I probably was wrong on the charitable contributions. Was gleaning over so much stuff related to the bill and was starting to develop a rolling boil.
But it is fact that the daily per diem allowance deduction for transportation workers is going away. That equates to roughly $14K a year in lost deductions right out of the gate on just that one item. And it is fact that all current deductions for state and local income taxes will not longer be allowed. Those two alone match or exceed the standard deduction for many people of the $24K for married couple. For a single person, just the loss of the meal deduction is larger than the $12K standard deduction.
But it is fact that the daily per diem allowance deduction for transportation workers is going away. That equates to roughly $14K a year in lost deductions right out of the gate on just that one item. And it is fact that all current deductions for state and local income taxes will not longer be allowed. Those two alone match or exceed the standard deduction for many people of the $24K for married couple. For a single person, just the loss of the meal deduction is larger than the $12K standard deduction.
