SALT Deduction Impact

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SALT, tax deductions

These High Tax States Could Benefit the Most From Higher SALT Deduction

Few states have more riding on the future of the SALT deduction than New York. With some of the highest property taxes in the country and a high-income tax rate layered on top, New York residents are disproportionately affected by the current $10,000 cap on state and local tax deductions.

· 4d · on MSN

Who benefits most from the state and local tax deduction and why raising the cap is contentious

· 12d · on MSN

House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers. Here's who could benefit

3don MSN

Republicans’ deal on SALT deduction has changed again. How would it impact you?

Republican lawmakers in the House appeared to have reached a new agreement late Tuesday on the state and local tax deduction, ...

MiBolsilloColombia on MSN16h

SALT Deduction: What it was like before 2017 and now with Trump's proposal

The State and Local Tax (SALT) deduction has been a pivotal aspect of the U.S. tax system, especially impacting taxpayers in ...

9don MSN

Californians could get bigger state, local tax deductions. Why that matters

Some congressional lawmakers are trying to lift Trump-era caps on state and local tax deductions as part of the new ...

JD Supra6d

The State and Local Tax Deduction Is in Peril – The Cavalry Does Not Appear to Be on Its Way to Rescue It

Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or ...

CBS News2d

Some homeowners could get a fat deduction under the new GOP tax bill. Here's what to know.

The SALT deduction cap was introduced by Mr. Trump ... a University of Pennsylvania nonpartisan group that analyzes the fiscal impact of policy. That adds to the cost of a bill that has been ...

KWQC on MSN2d

How change in tax deductions could impact Illinois

The version passed by the House increases that deduction limit to $40,000. The increase was a big point of contention for ...

1don MSN

How California’s wealthiest people benefit most from the Republicans’ tax cut

California Republicans were pleased that lower- and middle-income residents will be able to deduct more of their state and ...

JournalofAccountancy4d

Why the PTET SALT deduction is the AICPA’s ‘No. 1 priority’

We have a call to action on the passthrough entity SALT deduction because it has a huge impact to our members and, of course, their clients, too. Then with regards to the IRS, that is something ...

FingerLakes1.com7h

SNAP, Medicaid cuts hit NY in new federal budget

A newly passed federal budget bill could cut billions from SNAP and Medicaid in New York while raising the SALT deduction cap ...

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