Recently the National Association of Realtors published a blog post on the issues surrounding doubling the standard deduction. We think this valuable information for every homeowner and prospective buyer. Click on the pull quote below to go to the complete post.
…’One of the most talked-about provisions in the tax reform framework that the Trump Administration and Republican congressional leadership released a few weeks ago is the doubling of the standard deduction. Of all the changes the framework would make, this one is presented as something that will help middle-income households. And that is true, but the households that it mainly helps are renter households. Home-owning households will likely see their taxes go up even if they were to take that increased standard deduction. There are two reasons for this…’