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If you work in Silicon Valley you almost certainly are subject to the AMT and, therefore, cannot deduct state income taxes.
by Randgalt 11y ago
If you work in Silicon Valley you almost certainly are subject to the AMT and, therefore, cannot deduct state income taxes.
- mtanski 11y agoIf you work in state without high state / local income taxes you're a lot less likely to trigger AMT. So really the federal government subsidize wealthy residents of those places the most. If you're like a middle class family in NYC where two parents work. One person is a cop (detective) the other person is a teacher both with experience you're prob pulling $100k + $80k + overtime in the cop case. Congrats your family is probably paying AMT every year.