Home Tax Deductions “Mortgage Interest” – New tax law imposes a lower dollar limit on mortgage qualifying for home mortgage interest deduction. Starting this year taxpayers may only deduct interest on $750,000 of qualified residence loans. This is down from …
Business Owners May Get Tax Deduction
Many owners of sole proprietorships, partnership, trusts and S corporations could get to deduct up to 20 percent of their qualified business income. The new tax deduction for owners is referred to as Section 199A deduction which was created by …