What are the different types of state and local taxes that are not deductible under the salt deduction?

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. State and Local Tax (SALT) Deduction. The state and local tax (SALT) deduction permits taxpayers who itemize when filing federal taxes to deduct certain taxes ... The 2017 Tax Cuts and Jobs Act (TCJA) wisely capped the value of the SALT deduction at $10,000, which helped provide resources that were used to reduce tax ... May 7, 2020 ... We consider options that would limit all itemized deductions, not just the SALT deduction, and an additional option that would raise the four ... 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 ... Mar 6, 2025 ... Be Wary of Pre-Emptive Tax Planning on Itemized Deductions & SALT · The $10,000 cap on state and local tax (SALT) itemized deductions is set to ... 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 ... Mar 13, 2019 ... This blog focuses on what the reduced deduction means for taxpayers, especially in high-tax states like California, New York and New Jersey. First, by allowing taxpayers the ability to deduct state and local taxes (SALT), taxpayers avoid being taxed twice on the same income. Additionally, the ... Jun 18, 2020 ... State Tax Strategies for Athletes and Entertainers: Residency and SALT Deduction Limitations.