Do you have to file a Schedule F to take advantage of this? If so, are there ag landowners that will not be able to deduct the property taxes paid on that ag land? Perhaps just shift taxes to renters?
There's a lot of misinformation regarding #ag property taxes → the bill we're voting on today leaves intact the full deduction on #ag land & property. I worked hard in negotiations to ensure ag land would continue to be considered a business expense in the tax code. #taxreform
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Looks like any business can expense tax payments. It’s us homeowners who won’t get the benefit of a tax deduction for taxes paid over 10k.
End of conversation
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WHY DIDNT YOU GO AFTER THE CARRIED INTEREST FOR PRIVATE EQUITY?
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Thank You and well done!
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