The latest 2017 Taxation Incisions and you can Perform Serves (TCJA) statement restricted an effective taxpayer’s deduction from condition and local fees (SALT) so you can $ten,000. So it significantly enhanced the expense of condition taxation in the claims having large limited tax cost and you can seemingly highest possessions fees. A house $2k loans Plantsville from small mode into the a center-classification area towards borders of your Bay area can cost $seven,one hundred thousand per year when you look at the property fees. 7% and you will re also-enforce FICA fees for the people money above $eight hundred,100. [Read more…]