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Are the actual tax savings equal to the value of the deductions?

April 26, 2017actual deductions savings tax value

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Are the actual tax savings equal to the value of the deductions?

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The amount of taxes saved will depend upon the tax bracket of the landowner. If the landowner in the above example could use the entire $600,000 deduction and he or she was in a 25% tax bracket, the landowner would have a total tax savings of $150,000.