Monthly Archives: August 2021

State Income Tax Deduction Work Around

August 9, 2021|Tax News, Articles|

With the enactment of the Tax Cuts & Jobs Act, the itemized deduction for state taxes was limited to $10,000 for taxpayers filing married filing jointly. This change in tax law was disadvantageous to those taxpayers living in high taxed states who were usually able to take advantage of a higher itemized tax deduction for the large amount of state income taxes paid.

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