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Reply to "understanding the tax impact of the standard deduction"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The 10K SALT tax deduction limit on itemization pushed a lot of folks to take the standardized deduction. [/quote] That was deliberate policy to “simplify” the tax code. I know, I know …[/quote] 😬 This was deliberate policy to stick it to blue states with generally much higher priced real estate, which brings with it much higher property tax which gave blue states much more to deduct. But, I get it, this isn't a political thread.[/quote] Oh you are absolutely right. I should have said under the guise of simplifying. Although it does in fact simplify I just dispute the notion that taxes should be inherently simple. It stands to reason they should be as complex as the rest of your finances. [/quote]
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