How do federal tax incentives for child and dependent care expenses interact with state and local tax rules?

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 ... FAQs – 2022 House Bill 444 – Federal State and Local Tax Deduction Workaround. Terms used in this Guidance; What is HB 444? Which entity types entities can ... Oct 19, 2017 ... The tax plan from President Trump and congressional Republican leaders would end the federal deduction for state and local taxes (SALT). Jan 9, 2025 ... According to press reports, policymakers are considering changes to the $10,000 state and local tax (SALT) deduction cap as part of their ... Apr 12, 2019 ... Full deductibility of property taxes is a SALT workaround that benefits middle class taxpayers more (by percentage of lost SALT deductions ... The $10,000 U.S. cap on deductions for state and local taxes (SALT) is, understandably, on the minds of many taxpayers in high-tax states, especially with ... Mar 22, 2024 ... What is the SALT deduction cap? The SALT deduction cap limits the itemized deduction for state and local taxes to $5,000 for a married person ... Feb 12, 2025 ... $15,000/$30,000 SALT Cap: The current SALT deduction cap would be increased to $15,000 for individual taxpayers and $30,000 for married couples, ... Feb 20, 2025 ... The state and local tax (SALT) deduction allows most taxpayers to subtract up to $10,000 in paid property, income, or sales taxes from their ... Nov 4, 2024 ... The SALT Deduction Fight Is Coming Back—Whoever Wins the Election · Lawmakers in states including California and New York chafe at the $10,000 ...