Quote:
Originally Posted by MAXUM
You still can - up to 10K after that you can't. In fact you should be happy about this, it's capped at the same amount for everyone. Why are you so critical of this? After all if your property tax is over 10K you're surely rich and as the Democrats love to say the rich need to pay their "fair share" so this prevents "rich" people from deducting more than "poor" people. This is exactly what you want. Or do you? What... you upset when it hits you in the pocketbook? Awe that's to bad now isn't it.
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I can tell you this. I’ve done over 150 personal returns so far this season and the $10,000 Really has not affected many of my clients. Basically due to the fact that the effective tax rate is lower and the child credit is higher. what I have noticed is that the refunds are tending to be smaller because the withholding charts have changed and people are taking home more during the week in their paycheck resulting in smaller refunds
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