New SALT Cap Workaround (AB 150) May Provide Tax Savings for You

New SALT Cap Workaround (AB 150) May Provide Tax Savings for You

California has enacted AB150, joining the growing list of states implementing a workaround on the current $10,000 cap on state and local tax deductions. A Little Background In 2017, as part of the Tax Cuts and Jobs Act (TCJA), Congress greatly limited the ability of taxpayers to deduct their state and local taxes (SALT). In…