Thursday, April 27, 2017

Some of the Tax Deductions That Would Be Eliminated Under Trump's Tax Reform Proposal

Most of President Trump's tax proposal is a shifting of the point of taxation (With a good dose of Laffer curve voodoo). The headline reduction in tax rates are accompanied by the elimination of many tax deductions.

Here are some of the deductions that will be eliminated:

Home office deductions

Business travel-related deductions:
These expenses include business travel away from home, business use of your car, business meals and entertainment, business travel,

Education expenses for your profession

Tools of your profession, e.g. a carpenter's hammer, a home computer

State and local taxes

 Student loan interest

Some health expenses

Gambling losses


Theft deductions

(via MarketWatch)


  1. --- Some health expenses ---

    Sounds like El Trumpo wants to get rid of Flexible Spending Accounts, whoch were capped by the previous regime to a measly $2,500.00

  2. I presume that the elimnation of these deductions is not offset by a doubling of the standard deduction.