I remember when credit card interest, house loans interest, and some others were able to be claimed when filing taxes. Now it is just a "standard" deduction that we are allowed to take. WHY???
Some people have more bills and it would be great to take interest off taxes, but no, we have a standard deduction and it beats all of those things.
I liked the old way. So, to each their own-only the IRS controls it so it is their way, or the lawmakers that made it this, or that, way. We are stuck with what they want to do to us no matter what. Unless we change it by attending meetings, going to our local jurisdictions, etc, (But you know all this).
I remember when credit card interest, house loans interest, and some others were able to be claimed when filing taxes. Now it is just a "standard" deduction that we are allowed to take. WHY??? Some people have more bills and it would be great to take interest off taxes, but no, we have a standard deduction and it beats all of those things.
Std. Deduction to me is a great relief, because who wants to waste time tracking every postage stamp and penny?
Plus, people shouldn’t be encouraged to go into debt so much.
"Plus, people shouldn’t be encouraged to go into debt so much."
This. Right here.
I liked the old way. So, to each their own-only the IRS controls it so it is their way, or the lawmakers that made it this, or that, way. We are stuck with what they want to do to us no matter what. Unless we change it by attending meetings, going to our local jurisdictions, etc, (But you know all this).