Sentences with phrase «popular tax deductions»

This is one of the best known and most popular tax deductions.

One of the more popular tax deductions available is the mortgage interest tax deduction.

Paying off your mortgage is the most obvious cost of owning a home, so it's only appropriate that getting a deduction for mortgage interest payments is the most popular tax deduction for homeowners.

Five other New York House Republicans split with their party, citing concerns over the plan to scrap some deductions for state and local income tax, the single most popular tax deduction taken by New Yorkers.

De Blasio and Murphy vowed to work together to rally against the GOP's massive federal tax overhaul that calls for the elimination of popular tax deductions — such as state and local property tax costs and student loan interest payments — which they argue will hurt middle - class taxpayers.

Some are taking aim at the president's budget proposals that would curb popular tax deductions for wealthier Americans.

These changes to the child tax credit for 2018 and beyond may seem like a boon to lower and middle class families but critics argue child tax credits come at the expense of other popular tax deductions for the middle class including personal exemptions (gone), limited state and local income tax deductions, and limited mortgage interest deductions.

The mortgage interest deduction is one of the more popular tax deductions under the Internal Revenue Code, which also makes it one of the most «expensive» for the Federal government, and therefore one of the biggest targets of tax reform.

In a story Aug. 31 about popular tax deductions, The Associated Press reported erroneously that the mortgage interest deduction allows homeowners to deduct up to $ 1 million in interest payments.

The measure was opposed by 23 of New York's 27 House members over concerns about the bill's impact on the state and cuts to the single most popular tax deduction taken by New Yorkers, the state and local tax deduction.

WSJ: «Senate Republicans aim to preserve a popular tax deduction for household medical expenses when they release their version of a tax plan later this week, parting ways with House lawmakers on a proposal that costs about $ 182 billion over a decade, according to people familiar with the matter.»

-- Ending the popular tax deduction for businesses that subsidize their employees» transit fares.

The standard deduction doubles while some popular tax deductions are limited or eliminated by tax reform.

It also would scale back or end some popular tax deductions, including one for state and local income taxes, while preserving a capped deduction for property tax payments.