million-dollar homes is a bit of an exaggeration there. You can easily get above 24K in deductions with SALT plus not a huge amt of MID.
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But they're repealing SALT.
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Maybe we should just be buying out homes in our corporations and taking an immediate expensing deduction.
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No expensing for structures.
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If you think the MID is ineffective at promoting homeownership now, just imagine what it would look like under this package.
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Framework's talk of retaining it to "accomplish important goals that strengthen civil society" (i.e. homeownership) is a joke.
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Essentially takes away the incentive to purchase homes or give to charity? Is it confirmed that these deductions won’t be above the line?
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Or buy and rent out (because you could still claim interest deduction as business expense...classist.
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Same, and more importantly, with charity
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Preach!
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