Must-read House tax overhaul analysis from Michael Kitces, CFP and Master’s in Taxation

In his analysis Kitces addresses several FI/ER-related topics. Go here and read it ASAP.

Among other things, he covers:

  • Implications of standard deduction expansion vs. itemization changes.
  • Repeal of the student loan interest deduction.
  • Curtailment of Roth conversion strategies.
  • Repeal of medical expense deductions.
  • Mortgage interest deduction limitations.

This bill is obviously a baseline, which makes it very hard to adjust your plans just yet, but it’s fodder for thought. Again, you should read Kitces’s article as soon as you can.

Author: ER Dude

Sick of your job? After a thirteen-year career, Early Retirement Dude fled corporate America for good. You can do it too! Visit http://EarlyRetirementDude.com or email EarlyRetirementDude@gmail.com.

2 thoughts

  1. Interesting. I try never to look at these things before they’re final because they never seem to be final, but I figured if you posted it it was worth reviewing. I think one of the takeaways was that when you’re exploiting an unintended loophole, be ready for it to go away. The house flipping and Roth Conversion rules come to mind.

  2. That was a great overview of the tax proposal. I never would have bothered reading up on this until it was final but am glad to understand where they’re headed. Thank you very much for sharing that.

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