Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Trump flip flops on SALT Tax Deduction"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]More bad news for DMV area homeowners. The DMV area has the highest share of taxpayers claiming SALT. [quote] On the bill: Mr. Trump downplayed the legislation’s changes to Medicaid and the Affordable Care Act, which could cost at least 8.6 million Americans their health coverage, saying the changes weren’t “anything me[quote]aningful.” [b]He also flipped his position on raising the SALT deduction, which he supported during the campaign.[/b] [/quote] https://bipartisanpolicy.org/explainer/which-states-benefit-most-from-the-salt-deduction/ Which states have the highest share of taxpayers claiming SALT? One way to measure the SALT cap’s impact is to look at which states have the highest share of taxpayers claiming the deduction. The higher the share of taxpayers claiming the SALT deduction, the greater the chance that the $10,000 cap impacts both a larger share of households and that such households are higher-income and incentivized to itemize deductions in lieu of claiming the standard deduction. (For context, according to the IRS, only 7% of taxpayers making under $200,000 itemized deductions in 2022, compared to 38% of taxpayers making over $200,000.) In 2022, the most recent year for which tax data is available, the top five states were: Washington, D.C.: 20.3% of taxpayers Maryland: 19.8% California: 15.3% Utah: 13.7% Virginia: 13.5%[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics