Sentence examples for deduction for new from inspiring English sources

House The mortgage interest deduction for new home buyers is reduced, now only allowing borrowers to deduct interest on up to $500,000 in home loans, far below the current level.

The House bill capped the deduction for new mortgage debt worth up to $500,000.

The Internal Revenue Service will allow a tax deduction for new vehicles purchased after Feb. 16 and before Jan . 1 , 2010

The tariff decision could also hurt U.S. home builders, who already saw stock prices tumble Thursday morning on the revelation that the GOP tax bill would slash the mortgage interest tax deduction for new home loans, something Americans have relied on for years to lessen the cost of buying a home.

Indeed, research firm R. L. Polk & Co. recently estimated that the government stimulus plan, which includes a sales tax deduction for new car buyers, will boost industry sales by only 94,000 vehicles this year, amounting to an average $330 rebate on each new car purchased.

Increased tax credits and deductions for new private sector hires could be proposed before the election, and if not enacted immediately, should be passed during the lame duck session in mid-November (along with the transportation and capital investment proposals he just announced).

It dilutes the value of the mortgage deduction for some new, high-end buyers by limiting the tax break for interest paid to a mortgage debt of $750,000 or less.

"It is a very significant deduction for New Jersey," Lance said.

The tax bill caps the mortgage interest deduction at $500,000 for new mortgages, half of the current $1 million cap.

They paid about $100 million into baseball's revenue-sharing pool in 2007, but could have received a multimillion-dollar credit if they had had their deductions for the new stadium.

The Tax Cuts and Jobs Act eliminated the tax deduction for alimony in new divorces settled after December 31 , 2018