A national study has suggested the current White House plan for tax reform will increase taxes for middle-class homeowners. Families with adjusted gross incomes between $50,000 to $200,000 could see an average annual increase of $815 on their federal income taxes. As federal tax deductions are one of the main incentives for homeownership, it is imperative for organizations in the industry to remain vigilant in working with Congress to draft tax reform that promotes owning a home.
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Source: DS News