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Archive for the ‘SALT’ Category

Unfair, But Legal

Posted by taxguru on October 1, 2019

The Tax Code in this country is filled with stupid and unfair laws.  The new $10,000 limit on the deductibility of State And Local Taxes (SALT) on 1040s is just one of the many new idiotic rules included in TCJA.  However, that is the right of our elected officials in DC, to establish such insane limits.  As much as we need States to defend their rights against Federal encroachment, they don’t have a right to overturn Federal laws.

This recent case shot down such an attempt by four East Coast high tax states, whose residents have been hit by the new SALT limit.

Victory for Trump Tax Reform: Federal Court Upholds State, Local Deduction Limits

I would love to see this extremely unfair and ridiculous limit repealed, but unfortunately, it will have to be done by our imperial rulers in DC.

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