What is the relationship between the salt deduction and local government funding of schools?

Mar 30, 2023 ... Essentially, this provides a workaround for the SALT deduction limitation by allowing the PTE to pay for and deduct SALT before income is passed ... Sep 20, 2024 ... House lawmakers are now strategizing how to maintain what could be an unlimited SALT tax deduction in the next Congress. Sep 1, 2021 ... We can help. roundtable meeting. Make sure you understand how the SALT Deduction Cap will impact you. ... The Tax Cuts and Jobs Act of 2017 (“TCJA ... 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 ... Nov 26, 2024 ... Starting with the 2018 tax year, the maximum SALT deduction became $10,000. There was previously no limit. This has left some high-income filers ... Apr 7, 2025 ... Key takeaways · You can claim the SALT deduction only if you itemize. · The SALT deduction lets you deduct a variety of state and local taxes, ... 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 22, 2022 ... This will enable owners to take a full deduction of this state tax on their federal tax returns. ... SALT deduction will be limited to $10,000 ... Jun 7, 2023 ... If your state and local property taxes exceed $10,000, things are simple: Keep a copy of your property tax bill and take a $10,000 SALT ... Dec 10, 2022 ... Consistent with the SALT deduction limitation negatively affecting counties' expected future ability to raise more real estate tax revenues, we ...