Starting in 2018, the Tax Cuts and Jobs Act (TCJA) significantly changed the rules on how much mortgage interest Americans can deduct from their taxable income. If your primary mortgage began before December 15, 2017, the TCJA’s changes won’t apply to you until 2025.
Can I deduct unreimbursed employee expenses? The Tax Cut and Jobs Act made many sweeping changes to the U.S. tax system. One of the biggest changes under this new law was the elimination of the deduction unreimbursed employee business expenses beginning with 2018 tax returns.
Say Goodbye to the Home Office Deduction — Unless You Do This Tax reform took away this tax break for some taxpayers — but not everyone. Tax reform made a lot of changes to the tax laws, and while high-profile moves, like reduced rates for corporate and individual income taxes,