LogFAQs > #942855003

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Topic	Politics Containment Topic 313: August and Everything After
Samurai7 08/01/20 8:52:49 AM #72:	Forceful_Dragon posted... If you are spending over $10,000 in a single year on State and Local Taxes then your income is very high. If you are itemizing your income in such large amounts your income is very high. You can afford to not have your federal income further reduced by the amount over 10,000 you pay to State and Local taxes. As such I would disagree with an effort to remove this itemization limitation. As someone who makes only 40k a year, my loan interest and taxes make my itemized deduction over 10k. --- Conformity and rebellion...both ways are simple-minded--they are only for people who cannot cope with contradiction and ambiguity. <cite>Samurai7 posted [p:942855003] in Politics C... [t:78881468]...</cite> <quote>Forceful_Dragon posted... </cite> <quote>If you are spending over $10,000 in a single year on State and Local Taxes then your income is very high. If you are itemizing your income in such large amounts your income is very high. You can afford to not have your federal income further reduced by the amount over 10,000 you pay to State and Local taxes. As such I would disagree with an effort to remove this itemization limitation.</quote> As someone who makes only 40k a year, my loan interest and taxes make my itemized deduction over 10k. --- Conformity and rebellion...both ways are simple-minded--they are only for people who cannot cope with contradiction and ambiguity.</quote> ... Copied to Clipboard!
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