2 ms·
The 2017 “tax cuts” partially eliminated deductions for state and local taxes, capping them at 10k. This means people in high cost of living, high tax states ef
by mattnewton 5y ago
The 2017 “tax cuts” partially eliminated deductions for state and local taxes, capping them at 10k. This means people in high cost of living, high tax states effectively get taxed on income multiple times instead of being able to discount the money they already paid to state and local taxes above 10k.
https://taxfoundation.org/tax-basics/salt-deduction/ https://taxfoundation.org/tax-basics/salt-deduction/