Good riddance to the unlimited state and local tax deduction
Connor PfeifferWhen President Trump signed the Tax Cuts and Jobs Act into law in December, one of the most controversial changes to the tax code was the curtailment of the state and local tax (SALT) deduction. Under the old system, federal taxpayers could deduct from their federal tax bill all property taxes and either income or sales taxes paid to state and local governments. The new law caps SALT at $10,000 per tax return, meaning that only the first $10,000 a taxpayer pays in state and local property, income, and sales taxes is deductible.





