Understanding the SALT Deduction Complexity

This chapter delves into the intricacies of the SALT deduction, tracing its historical roots and discussing its significant impact on taxpayers in New York and California. Through guest insights and listener experiences, it explores the contentious 2017 cap on deductions and the political motivations behind it, revealing a bipartisan divide. Additionally, the chapter highlights the broader implications of tax policy on local governance and addresses concerns around double taxation.