Sentences with phrase «immediate state tax deduction»
Countermanding the ability of 529s to enjoy the immediate state tax deduction would leave only the long - horizon federal benefit.
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Should deductions be eliminated for state and local taxes, the immediate impact would likely be on the school districts and communities whose budgets depend on that revenue.
Some estimates assert that 80 percent of Americans will see an immediate tax reduction, although how much they realize depends on, most notably, the types of deductions they had used previously, and the level of state taxes they pay, which will vary based on the state in which they live.