State and Local Tax deduction

Oct 2019
24
3
Toronto, Canada
Being rich is always unfair to... poor people. More tax breaks for the rich would make it somewhat more unfair. I suppose in other areas taxes would be increased to pay for new government spending.
 
Jan 2018
987
1,045
The greatest place in America, California
I only get a 10k deduction here in Cali, my property taxes alone are over that amount. Trump screwed us.
Please spell California like it should be! I too am a Californian and get no deductions anymore. Soon I will not get my money from Social Security that I paid in to get my returns.
 
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Mar 2012
60,804
42,094
New Hampshire
I only get a 10k deduction here in Cali, my property taxes alone are over that amount. Trump screwed us.
Ridiculous. If you can afford 10K in property taxes you dont need a tax break above that. Thats a lot. We have some of the highest property taxes in the US and they arent that bad.
 
Sep 2012
4,581
5,015
California
Ridiculous. If you can afford 10K in property taxes you dont need a tax break above that. Thats a lot. We have some of the highest property taxes in the US and they arent that bad.
My state and local every year is over 30 grand. I used to be able to write that off. Now, all I get is the 10k. In order to live in many areas of California in a house, have a car, etc. family incomes have to approach or exceed a buck fifty. Anything below and you are struggling which is why so many 20 and 30 year olds still live at home. As for affordability, that is not the issue. The issue is fairness and using the tax code to penalize states that did not vote for Trump.
 
Nov 2013
12,300
12,702
NY
Ridiculous. If you can afford 10K in property taxes you dont need a tax break above that. Thats a lot. We have some of the highest property taxes in the US and they arent that bad.
well then you obviously do NOT have the highest property taxes in the US, not even nearly,.
Cali, NJ, NY...dude, a one-bedroom apartment for 600k runs you more than 10k in property tax in jersey.
 
Nov 2016
12,280
13,241
USA
My state and local every year is over 30 grand. I used to be able to write that off. Now, all I get is the 10k. In order to live in many areas of California in a house, have a car, etc. family incomes have to approach or exceed a buck fifty. Anything below and you are struggling which is why so many 20 and 30 year olds still live at home. As for affordability, that is not the issue. The issue is fairness and using the tax code to penalize states that did not vote for Trump.
Same here. My state, local and property taxes exceeded the $10K cap, so I’m screwed. I’m not rich, but thanks to trump’s tax law, I can no longer itemize, and the standard deduction does not make up for the loss in itemized deductions, so I’m now paying more in federal taxes. Meanwhile, people who make far more than I do are doing very nicely under the new tax law, but the hand wringing over giving a tax break to the “rich” seems limited to folks like me.
 
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Sep 2012
4,581
5,015
California
Same here. My state, local and property taxes exceeded the $10K cap, so I’m screwed. I’m not rich, but thanks to trump’s tax law, I can no longer itemize, and the standard deduction does not make up for the loss in itemized deductions, so I’m now paying more in federal taxes. Meanwhile, people who make far more than I do are doing very nicely under the new tax law, but the hand wringing over giving a tax break to the “rich” seems limited to folks like me.
These rubes think people who make six figures are rich. Well in 1970 that was rich mans money but not today. Being rich means you have so much dough you have to work at spending it. No one in California, New Jersey, Boston, Chicago, Seattle, the Bay Area, LA, San Diego or Portland that makes a hundred K a year is rich. In fact, that is just middle class.