Reassessing Some SALT Deduction Workarounds

state and local tax

In the runup to the 2017 tax reform package, the State And Local Tax deduction “loophole” fell into the crosshairs. Lawmakers predicted that lowering the SALT limit to $10,000 a year would raise hundreds of billions of dollars. Besides, they asserted, this change will not affect 90 percent of taxpayers. That’s very small comfort to a client who happens to the in the other 10 percent. Furthermore, if your tax client is among the 5 percent of Americans who pay significant state and local taxes, … [Read more...]