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Money and Finances
Reply to "MD Taxes and SALT"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Has anyone found that other changes have balanced out the SALT hit? For instance, we now qualify for the $2,000 child credit and our rate has gone down from 28% to 24%. But I'm feeling really dumb about weighing all the factors. I'm also regretting not changing our withholding this summer like so many of you smart people advised. Gah![/quote] We came out ahead despite the SALT change. It depends on your individual circumstances. Our SALT was previously limited by AMT. However, a combination of lower rate, AMT repeal and surprise child credit made our tax rate lower than last year. [/quote] Also the marriage penalty for married filing jointly has been eliminated for all brackets except the top one. This helped us a lot.[/quote]
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