How Texas Gov. Greg Abbott reduced his federal tax bill to zero in 2015

How Texas Gov. Greg Abbott reduced his federal tax bill to zero in 2015

Kristen Mosbrucker

Texas Gov. Greg Abbott and his wife, Cecilia, trimmed their federal tax bill to zero during 2015, according to records released by his office this week.

Over the course of 2015, Abbott had about $25,242 withheld as federal taxes, but through exemptions and reductions amount that was reduced to zero.

Abbott reported earning $119,819 from income during 2015 but claimed itemized deductions of $101,411 and $12,000 of exemptions, records show. An additional $3,000 in capital gains losses was rOf those deductions, about $42,544 stemmed from real estate taxes paid, while $28,734 was related to the home mortgage interest credit, and $13,125 was related to charitable donations.eported too. Cecilia Abbott was a self-described homemaker.

Read More Here

Greg Abbott ‘hopeful’ Trump win means Texas can cut border spending Previous post Greg Abbott ‘hopeful’ Trump win means Texas can cut border spending Texas argues it can fix foster care without judge's oversight Next post Texas argues it can fix foster care without judge's oversight