My state income taxes exceed the $10k limit. That means my property taxes are also excluded. That's about $10k in deductions that I've lost due to the changes in federal tax regulations. I live in Idaho, so the pain isn't just hitting Democrat majority states. When I retire, my state income tax and property taxes combined will probably fall under the $10k limit.
I'm reminded that I need to do my taxes.
My state income taxes exceed the $10k limit. That means my property taxes are also excluded. That’s about $10k in deductions that I’ve lost due to the changes in federal tax regulations. I live in Idaho, so the pain isn’t just hitting Democrat majority states. When I retire, my state income tax and property taxes combined will probably fall under the $10k limit.
Keep your eye on the ball, look at what you lose and what you gain. and then look at the NET. Get the whole picture, not the partial truth from the fake news.
standard deduction for a married couple is $27,000 this year and will go up Most people are winners.