the staff of the Ridgewood blog
Ridgewood NJ, Biden promised he would repeal the $10,000 cap on the state and local tax (SALT) deduction but limit the tax benefit of all itemized deductions to 28 percent. Further, he would tax capital gains and dividends as ordinary income for taxpayers who report $1 million or more and tax capital gains at death, subject to certain exclusions.
Continue reading Is the Cap on the SALT Deduction in Play ?