Should retirees factor the limitations on state and local tax deductibility into their decisions about where to live?

Jan 11, 2022 ... Personal income tax itemized deduction for state and local taxes. (SALT). • Only taxpayers that itemize deductions may claim SALT deduction. Feb 8, 2025 ... The SALT deduction prevents residents from being taxed twice on the same income while ensuring state and local officials have the resources to ... First, by allowing taxpayers the ability to deduct state and local taxes (SALT), taxpayers avoid being taxed twice on the same income. Additionally, the ... 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 ... 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. 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 ... 2 days ago ... After a week of meetings and discussions, Republicans still haven't settled on how to handle the state and local tax deduction, also known as “ ... Apr 12, 2019 ... Full deductibility of property taxes is a SALT workaround that benefits middle class taxpayers more (by percentage of lost SALT deductions ... Jan 3, 2022 ... “The SALT deduction cap is nothing less than double taxation on New Yorkers,” Governor Hochul said. “Repealing the SALT cap would not only ... The SALT deduction reflects a partnership between the federal government and state and local governments.