This includes retirement-plan deductions (such as those for IRAs and self-employed retirement plans, including SEPs, SIMPLE and other qualified plans); all of these deductions would be retained. However, if all other deductions are eliminated, the eliminated deductions would include: Teacher’s Expenses – This is the educator’s deduction for classroom supplies (up to $250 per year). The 2015 PATH Act recently made this deduction permanent.
http://www.wf-cpas.com/resources/wf-news/116-deductions-eliminated-under-trump%E2%80%99s-tax-reform-proposal.html
The House Republican tax plan would cap the maximum property tax deduction at $10,000 and end the deduction for state income and sales tax altogether. About two-thirds of filers choose instead to take the standard deduction, a fixed amount set each year.
http://www.politifact.com/new-york/statements/2017/nov/20/brian-higgins/not-all-state-and-local-tax-deductions-eliminated-/
Deductions Eliminated Under Trump’s Tax Reform Proposal One of President Trump’s key tax reforms is to eliminate all individual tax deductions except for those that incentivize home ownership, charitable contributions and retirement contributions.
http://www.wf-cpas.com/resources/wf-news/116-deductions-eliminated-under-trump%E2%80%99s-tax-reform-proposal.html
New York state taxpayers would lose money if Congress decides to end the federal deduction of state and local taxes, he said. The elimination of income and sales taxes in New York is equal to 9 percent of taxable income, meaning that if you make $100,000 a year you lose $9,000, Higgins said at a hearing. If you make $50,000 a year, you lose $4,500. About 3.3 million people in New York state take advantage of the state and local ...
http://www.politifact.com/new-york/statements/2017/nov/20/brian-higgins/not-all-state-and-local-tax-deductions-eliminated-/
Not all state and local tax deductions eliminated in House Republican plan. By Dan Clark on Monday, November 20th, 2017 at 2:42 p.m.
http://www.politifact.com/new-york/statements/2017/nov/20/brian-higgins/not-all-state-and-local-tax-deductions-eliminated-/
Not all state and local tax deductions eliminated in House Republican plan By Dan Clark on Monday, November 20th, 2017 at 2:42 p.m. Rep. Brian Higgins, D-Buffalo, claimed people in New York would face major losses under the House Republican tax plan.
http://www.politifact.com/new-york/statements/2017/nov/20/brian-higgins/not-all-state-and-local-tax-deductions-eliminated-/
Although the administration’s one-page outline of the proposed tax reforms provides little detail, if all of the deductions except those noted are eliminated, the reform will impact both itemized deductions and income adjustments.
http://www.wf-cpas.com/resources/wf-news/116-deductions-eliminated-under-trump%E2%80%99s-tax-reform-proposal.html
The most commonly claimed itemized deductions are for state and local taxes, mortgage interest and charitable donations, the first two of which could also go away or be severely limited. The four above-the-line deductions eliminated under the tax plan are: Moving expenses: If you meet specific IRS criteria and have moving expenses relating to a change in job or business location, those expenses are currently deductible.
https://www.cbsnews.com/news/4-popular-deductions-the-gop-tax-plan-would-end/
Trump's Tax Cuts and Jobs Act features some big changes, including the elimination of some popular deductions. These will be eliminated after 2017. Trump's Tax Cuts and Jobs Act features some big changes, including the elimination of some popular deductions. These will be eliminated after 2017.
https://www.cheatsheet.com/money-career/last-chance-tax-deductions-before-donald-trump-kills-them.html/?a=viewall
Individual income tax rates have been lowered, and some deductions have been eliminated completely, while others have narrowed. The looming curiosity is how this new tax act will affect taxpayers. Here’s how President Trump’s new tax act will impact American taxpayers, beginning in 2018. 1. Mortgage interest deduction limits will drop by $250,000
https://www.cheatsheet.com/money-career/last-chance-tax-deductions-before-donald-trump-kills-them.html/?a=viewall
what deductions are eliminated
President Trump’s key tax reforms is to eliminate all individual tax deductions except for those that incentivize home ownership, charitable contributions and retirement contributions.