“So the state and local tax deduction lets you lower your…” — Cato Audio at 16:31
“So the state and local tax deduction lets you lower your federal taxable income by the amount that you pay in state and local income taxes. And so the 2017 reform capped that amount. Before it was unlimited, they capped it at $10,000 of the taxes you pay can be deducted from your federal income tax return if you…”
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