The New Tax Math for People Living in High-Tax States

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The New Tax Math for People Living in High-Tax States
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More snowbirds are expected to make a permanent move as the curbs on state and local tax deductions are starting to be felt

The limit on deductions for state income taxes and property taxes costs some taxpayers tens of thousands.

The Tax Cuts and Jobs Act of 2017 clamped a $10,000 limit on the amount of state and local taxes—including income and property taxes—that joint filers can deduct from their income for federal taxes.

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