3 ms·
1) Any hopeful homebuying millennials would also have not have the benefit of the deductions. 2) Wouldn't this just pass the cost onto renters? This seems more
by greesil 10y ago
1) Any hopeful homebuying millennials would also have not have the benefit of the deductions.
2) Wouldn't this just pass the cost onto renters?
This seems more like a way to shift the tax burden to the middle class.
- matt_wulfeck 10y agoThe beauty of the standard deduction is that it goes unqualified to everyone. The rich itemize their taxes almost without exception. IANAA, but interest on a rental is a business expense, therefore will be be unaffected by this change.
- greesil 10y agoYou didn't actually address my first point, and you're factually incorrect on the second. Are you confused, or are you paid shill?
- matt_wulfeck 10y agoWhat's incorrect about my statements? I'm not an account so I could be wrong. From what I understand the standard deduction is unqualified for all tax filers and affects personal income returns. If a business owns a giant rental complex who will claim the personal deduction? Isn't the interest on the loan just an ordinary part of the business expense?
- sctb 10y agoPlease no personal attacks on Hacker News like this.