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Strategies & Market Trends : A.I.M Users Group Bulletin Board -- Ignore unavailable to you. Want to Upgrade?

To: LemonHead who wrote (9051)	10/24/1999 11:59:00 PM
From: Gary	Read Replies (1) \| Respond to of 18928

Keith The changes in deductions goes back to the Reagan era. They lowered rates but taxed most of us on more income. Changed a lot of waht we do with our clients. In addition to mortgage interest and real estate taxes, contributions, investment interest (with limitations), medical (with limitations) and a lot of miscellaneous items (investment expenses, employment related expenses, accounting fees) are still deductible (with limitations. They made everything more complicated, but eliminated a lot of deductions o they could call it tax simplification. I think Congressman should be forced to prepare their own tax returns, then they would think twice before they passed some of these laws. Of course the deficit would probably rise as they would be paying less due to their own liberal interpretations. Gary