[reaganaut1]

State and local income and property taxes are not charitable contributions, and everyone knows it. Blue states that want to keep their high-earning residents should cut their income tax rates.

[1Old Pro]

Blue states that want to keep their high-earning residents should cut their income tax rates.

That's a laugh, New York has people running to the border to leave, and Cuomo keeps raising taxes. Nothing will change until the state is bankrupt and Cuomo comes begging for a bailout.

[goldstategop]

Which will never happen because Democrats are addicted to higher taxes.

Wake me up should they actually begin to slash taxes.

[taildragger]

Pretty much. My CPA gnome noted this will not stand, sadly no comes the 9th Circus....

[Paladin2]

As the gov't taxes you on interest income, it only makes sense to deduct interest paid from your income. Someone else books that money as income for their income taxes.

One should be able to add the property taxes to the basis for the property.

[Cowboy Bob]

New York was the first to take action to protect our residents from this hostile assault

LOL! High state taxes is not a "hostile assault?"

[Alberta's Child]

“New York was the first to take action to protect our residents from this hostile assault and ensure New York families weren’t being used as a piggy bank to pay for tax cuts for big corporations,” Gov. Andrew M. Cuomo of New York, a Democrat, said.

So if every retail establishment in the State of New York started calling their business transactions "charitable contributions," does this mean that NY taxpayers can claim deductions for their fuel, clothing and grocery costs on their New York Stat tax returns?

[MNJohnnie]

So the scam where Democrats set up very high local/state taxes and then pass those costs on to the Fed by allowing full deductablity from the Fed tax return is over.

No wonder Blue state politicians are crapping their pants. Their voters are finally going to have to start paying “their fair share”.

[rolling_stone]

he4y the states flaunt immigration laws with sanctuary cities and states why not taxes? until someone goes to jail the states will keep up this crap

[xkaydet65]

So if I tell NYS Bureau of taxation and finance that my daughter’s tuition payment of 30K a year is a charitable contribution they’ll be down with that? And any parent paying college or private or parochial school tuition gets the same treatment.I am sure Mario’s brat will be okay with that.

[backwoods-engineer]

Awesome. We may have finally found a way to tax Progressivism out of existence.

[circlecity]

This provision of Trump’s tax law is the entire reason Nancy Pelosi is on such a jihad against it. It’s a major threat to her socialist paradise.

[I want the USA back]

If it’s charitable, then it’s voluntary. If you have to pay, or they put a lock on your front door and kick you out, and shoot you to death if you resist, then it’s a f*cking tax.

So it’s a tax. The cooomo’s and the mallow’s, and other insane democrats know that, and are deliberately misleading the public by playing the game of telling them that it will be considered a donation.

[CodeToad]

A buddy of mine talked about a plan floating in NJ whereby property taxes are not stated as property taxes but half is “School donations” and deductible from property taxes.

Example: A $16,000 property tax bill can be cut in half if the person makes up to an $8,000 “school donation” and then only pays $8,000 in property taxes. Both $8,000 payments are federally deductible and the State gets the full $16,000.

[faithhopecharity]

yes. this has been tax law since the dawn of time (or at least as long as anyone can remember)..anything of value that you get back in return for your ‘contribution’ has to be subtracted therefrom before the remainder (if any) may be deducted from federal taxes

there’s no “IRS getting tough” about this, its been the same rule for decades. That IRS is putting out a little publicity about the rule is, however, probably a good thing under the circumstances