alt Hacker NewsThat was back in the days when if you had mortgage interest, it was to your advantage to itemize deductions and include charitable donations. With the much higher standard deductions now, far fewer people file a Schedule A.
That was back in the days when if you had mortgage interest, it was to your advantage to itemize deductions and include charitable donations. With the much higher standard deductions now, far fewer people file a Schedule A.
There’s also the cap on the deductibility of local taxes. The Trump tax “cut” raised my tax rate by roughly 3% (although I’ve tended to have lots of fluctuations in my income and deductions over the last 15 years so it’s hard to make good comparisons from one year to the next).