What about mortgage interest and property tax?
EDIT: I'm skeptical this is right. I'm in a high tax state, with high property and mortgage interest. Yet this shows me between 1% and 12% better off despite every report I've read and www.republicantaxcalculator.com showing me much, much worse off.
Thanks!
Well, first I used the new brackets to calculate the tax and found us slightly in the black. Then I dug out my last year tax return, added four numbers -- income tax, property tax, mortgage and donations -- subtracted proposed 24K standard deduction and applied our new bracket (35%) to the difference. Subtracted the first number. Felt robbed.
That said, I'm waiting for my CPA to get back to me with the projections for 2017 along with the tax reform impact estimate.