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Apr 26, 2017
11:15:40am
Anyone know how Trump tax plan affects Mormons?
And by Mormons, I mean that many members find it more beneficial to itemize because of mortgage interest, charitable donations, and larger than average families. I have seen some info that he may increase the standard deduction, but haven't heard whether he plans on adjusting rules for those who itemize. I can see how for a certain income level and deduction level that increasing the standard deduction would simplify taxes for a bunch of people that are near that line now. However, I suspect that almost all center-middle-class and above Mormons itemize, so I am interested to see how this affects the high-deductions-relative-to-salary crowd.

I have tried to do a quick Google search and there don't seem to be many details, so maybe I just need to wait until the announcement today (and maybe even until legislation is drafted).
AggieWeekendCougar
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AggieWeekendCougar
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