Tag: state and local taxes. SALT

So — are CA politicians worth their pepper and SALT  ( State And Local Taxes = SALT)

States such as California and New York have the highest state and local taxes in the U.S.A.

No longer can people living in high tax states — such as  California and New York — deduct their entire SALT taxes in their entirety from their federal tax bill.  They can only deduct a maximum of  10 K.

As the Bay Area has a handful of counties where homeowners pay high state and local taxes — this matters mightily whether high income homeowners keep paying those rates and  stay in CA.

Thus the underlying question — are CA politicians and their policies worth their SALT? Maybe it’s time to re-consider what CA taxpayers get for their money …..   written by Cameron Jackson