“The loss of the federal income tax deduction for state and local taxes paid would mean a loss of about $21,500 in write-offs for the average New Jersey taxpayer.”
To find out how YOU will fare in your town, CLICK on the interactive map HERE: https://atnj.org/NJtaxmap
The darker the green, the higher the amount of State and Local Tax (SALT) deductions taken off of federal taxes that you will NO LONGER be able to take. So who’s got it worst at nearly $155,000 of SALT? Looking at you, Short Hills.
You can thank Trump and GOP for this. Don’t like it? Call your Members of Congress! Put a stop to both having NJ as a “donor” state and what is double taxation.