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coolsandy

(479 posts) Thu Oct 26, 2017, 09:04 AM Oct 2017

i remember sales taxes and interest charges being a big part of my getting tax refunds.

4 replies

= new reply since forum marked as read

Highlight:

in the 80's when they closed tax loopholes, didn't they eliminate credit card interest write-offs? (Original Post) coolsandy Oct 2017 OP

Yep, that deduction is long gone PJMcK Oct 2017 #1

Yes I think and also SHRED Oct 2017 #2

Yes, elimined for non-business expenses by the tax reform act of 1986... PoliticAverse Oct 2017 #3

Yes, tax simplification CanonRay Oct 2017 #4

(25,048 posts)

1. Yep, that deduction is long gone

Thu Oct 26, 2017, 09:05 AM

Oct 2017

Unless there is a business account...

(28,136 posts)

2. Yes I think and also

Thu Oct 26, 2017, 09:09 AM

Oct 2017

Automobile loan interest I believe.

(26,366 posts)

3. Yes, elimined for non-business expenses by the tax reform act of 1986...

Thu Oct 26, 2017, 09:17 AM

Oct 2017

(16,171 posts)

4. Yes, tax simplification

Thu Oct 26, 2017, 09:48 AM

Oct 2017

means that we simply pay all the tax, and the rich and corporations pay none. Simple, isn't it?