Can the deduction for one-half of self-employment taxes reduce a taxpayer's state and local tax liability?

Aug 9, 2024 ... The 2017 Tax Cuts and Jobs Act (TCJA) imposed a $10,000 cap on SALT deductions, putting some of the most stringent limitations on the deduction ... Mar 24, 2025 ... Limiting the SALT deduction for corporations was originally raised by the House Freedom Caucus as a funding mechanism for an increase in the ... Feb 8, 2024 ... The House of Representative is considering legislation that would retroactively double the cap on deductions for state and local taxes ... Beginning in 2018, the itemized deduction for state and local taxes paid will be capped at $10,000 per return for single filers, head of household filers, and ... Feb 2, 2024 ... A married couple with an income of $499,999 can claim up to $20,000 in SALT deductions. A couple with an income of $500,000 can only claim up to ... Aug 25, 2021 ... The SALT deductions are limited by a new cap of. $10,000, effective 2018. The unique impact of the new SALT deduction cap on home prices is. Sep 14, 2021 ... Correa Statement on SALT deduction being excluded in reconciliation package. Washington, D.C. — Today, Congressman Lou Correa (D-CA) released ... Oct 5, 2024 ... I often see many progressives in support of the SALT Deduction, despite the fact that it is effectively just a major handout to rich people. Jan 5, 2022 ... I appreciate the work of Attorney General Tong and our Congressional delegation to restore the SALT deduction.” The lawsuit — which was ... Apr 3, 2025 ... The SALT deduction shifts some of the burden of state and local taxes from taxpayers to the federal government. By reducing the deduction's ...