Accountants Don’t Agree on Whether Mortgage Bankers Are Eligible for New Tax Deduction
January 25, 2018
A deduction included in the recently enacted Tax Cuts and Jobs Act aimed at small businesses could apply to mortgage banking companies, according to certain industry analysts. The tax law was written to limit the deduction for income from financial services activities, but there’s enough ambiguity at the moment for some accounting firms to see a way for lenders to take the deduction.