Getting SALT-y About Tax Reform

When Republicans took control of the executive branch last November in addition to maintaining control of Congress, they had two major priorities on the top of their list. Although they have so far failed to address healthcare reform, they have moved full-steam into their other priority, comprehensive tax reform. Although there are a lot of changes being floated, there is one change that is poised to have the largest effect on Maryland taxpayers: the repeal of the State and Local Tax (SALT) deduction. In order to understand the effects of the deduction, we should start with the basics. Although...

Read More