Does the salt deduction limit make tax preparation more difficult for certain taxpayers?

Feb 7, 2025 ... What is the SALT Deduction Cap? The Tax Cuts and Jobs Act (TJCA) of 2017 established a cap on the SALT tax deduction of $10,000 per tax return ... Sep 30, 2024 ... According to the Treasury Department, the SALT cap has prevented more than 11 million Americans from deducting over $300 billion in state and ... Oct 1, 2017 ... ... deduction for state and local taxes (SALT), available to itemizers. What is the SALT deduction? Simply put, it allows taxpayers to avoid ... Mar 1, 2023 ... The SALT deduction allows taxpayers to deduct state and local taxes paid from their federally taxable income, however the 2017 Tax Cuts and Jobs ... Feb 11, 2022 ... The SALT deduction cap became a political lightning rod in 2017 when a Republican-controlled Congress passed the Tax Cuts & Jobs Act. Nov 9, 2017 ... The deductions for all of the state and local taxes is worth about $100 billion in 2017, according to projections from the Joint Committee on Taxation. Nov 1, 2022 ... ... SALT deduction. New York, joined by Connecticut, Maryland, and New ... deductions (e.g., the $10,000 cap on SALT deductions). Generally ... The SALT deduction for state and local taxes can only be claimed if you itemize on your tax return - that is, when your itemized deductions are greater than ... Sep 4, 2020 ... The SALT deduction is a warped way to do social policy; at worst it is a politically-motivated handout to the richest people in the richest places. Feb 18, 2025 ... The 2017 Tax Cuts and Jobs Act (TCJA) dramatically limited the reach of the SALT deduction, prohibiting each household from deducting more than ...