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Last call: The clock is ticking on these tax breaks

Source: https://cnbc.com/2017/11/09/last-call-the-clock-is-ticking-on-these-tax-breaks.html - Nov 10, 2017

If you're looking for a last-minute tax break on that shiny new Tesla or on your sky-high state income taxes, you may be running out of time.

House Republicans' $1.7 trillion proposed tax overhaul does away with a long list of deductions and credits that filers will likely miss, including tax breaks for moving costs and disaster losses.

Where the Senate will go with its tax bill, which is scheduled for release Thursday, remains to be seen. However, preliminary reports suggest it will also call for a repeal of the deduction for state and local taxes.

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Category: General Business