• COOPER, MOSS, RESNICK, KLEIN & Co
    Certified Public Accountants
    15165 Ventura Boulevard, Suite 330
    Sherman Oaks, CA 91403
  • Phone: (818) 728-9868
    Fax: (818) 728-9822
    Email us here.
    admin@cmrkcpa.com

TCJA Series: $10,000 Limit on State and Local Taxes

Dear Client: Next in our series about changes from the Tax Cuts and Jobs Act (TCJA): There are new limits placed on individual itemized deductions for various kinds of non-business taxes, beginning January 1, 2018. Before the changes were effective, individuals were permitted to claim the following types of taxes as itemized deductions: state, local, […]

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TCJA Series: Home Mortgage Interest Deduction Under the New Tax Law

Dear Client: Next in our series detailing changes resulting from the Tax Cuts and Jobs Act (TCJA), new rules for deducting home mortgage interest: Deductibility of interest on “acquisition debt.”  Taxpayers may deduct interest on mortgage debt that is “acquisition debt.” Acquisition debt means debt that is: (1) secured by the taxpayer’s principal home and/or […]

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Overview of the New Tax Law

Dear Client: The recently enacted Tax Cuts and Jobs Act (TCJA) is a sweeping tax package. Here’s a look at some of the more important elements of the new law that have an impact on individuals. Unless otherwise noted, the changes are effective for tax years beginning in 2018 through 2025. Tax rates. The new […]

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Home Mortgage and Home Equity Loan Interest Under New Law

Dear Friends: Under pre-Act law, a taxpayer could deduct as an itemized deduction qualified residence interest, which included interest paid on a mortgage secured by a principal residence or a second residence. The underlying mortgage loans could represent acquisition indebtedness of up to $1 million ($500,000 in the case of a married individual filing a […]

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