Given that states like NY, NJ, CA and a few others are taking a hit with the loss of a SALT deduction, there is apparently some talk about finding ways to work around that. For instance, given that the majority of property tax is made up of school tax, they are suggesting to call it a charitable contribution to the state, which would then be deductible.
https://www.bloomberg.com/news/articles/2017-12-18/finance-gurus-devise-funky-workarounds-to-loss-of-salt-deduction
Cute ideas, but I don't think this would pass. What do you think?
https://www.bloomberg.com/news/articles/2017-12-18/finance-gurus-devise-funky-workarounds-to-loss-of-salt-deduction
Cute ideas, but I don't think this would pass. What do you think?
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