WXXI AM News

Connections: Understanding State and Local Taxes (SALT)

Jan 24, 2018

The new federal tax bill was advertised as a way to cut taxes for most Americans, but what about SALT? It stands for State and Local Taxes, and it has been a big deduction for many taxpayers. The federal bill has a new cap on the deductions. Experts say it could impact many taxpayers -- not just the wealthiest -- but there are conflicting reports on what is actually going on.

Our panel explains and answer your tax questions. Our guests:

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