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re: How are SALT Deductions Legal?
Posted on 6/2/26 at 7:42 pm to CubsFanBudMan
Posted on 6/2/26 at 7:42 pm to CubsFanBudMan
quote:
You are allowed to deduct the larger of your actual state income tax or a calculated estimate of sales tax as an itemized deduction. The deduction is also capped at $10k, which the blue states hate.
Not for 2025 tax year. $40K cap w/income parameters.
1
Posted on 6/2/26 at 8:19 pm to TheMagicMan
quote:
How are SALT deductions for federal taxes even remotely legal?
Most taxes paid to state, local, and many times international entities generate a reduction at the federal level. You are in favor of taxing the same dollar twice for the same taxable event? I’m not a fan of that.
This post was edited on 6/2/26 at 8:21 pm
Posted on 6/2/26 at 8:39 pm to TheMagicMan
We get screwed in TX with property taxes so I'm all for an increase in SALT.
Posted on 6/2/26 at 9:45 pm to ValZacs
quote:
Not for 2025 tax year. $40K cap w/income parameters
What are those income parameters? I must have crossed them.
Posted on 6/2/26 at 9:56 pm to TheMagicMan
This post is so emblematic of how little most people understand about how the country, economy, government, money etc works. Most people are too poor to know what a tax deduction even is. So our politics (and certainly TD) is just an endless, ignorant partisan grievance, always trying to find a way to make it about the other side.
By the way, Florida is among the top beneficiaries of salt deductions, so that’s not why you don’t know how any of this works.
LINK
By the way, Florida is among the top beneficiaries of salt deductions, so that’s not why you don’t know how any of this works.
LINK
This post was edited on 6/2/26 at 9:57 pm
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