Leaderboard

When taxable wages are greater than social security wages, it could be one of several types of pay: bonus such as a reenlistment bonus or medical specialties, or other bonuses flight pay incentive pay for doctors, submarines or other specialties with combat pay: taxable wages are lower than social security wages

What Governor Cuomo is fighting for is for real estate owners to get the maximum deduction for real estate taxes - not the state income tax. State income taxes are not deductible to arrive at a state tax liability. There's a difference.

Funny how NY also is fighting for this deduction but they don't give it themselves to NY residents. NYers can't deduct any state taxes or property taxes on their NY return.

It's been 43 years since I was in the Navy and worked on payroll. Sorry I don't have an answer.

When congress first started drafting the new tax law, almost all itemized deductions were taken away (only charities and maybe mortgage interest left I think). The higher standard deduction was supposed to make up for it. (At that point in time no one realized that the loss of exemptions would eat up the increased sd.) Then the lobbyists came out in force, they needed this, needed that. Congress was in such a rush to give the American people a "big Christmas present" that they just gave the loudest voices what they wanted. The result is that most deductions were put back in and, instead of being revenue neutral, the tax cut is adding trillions to the deficit. Misc 2% deductions and casualty and theft losses were the only things dropped, although taxes and mortgage interest were limited for some taxpayers while contribution limits were raised. The point is that the intent was to do away with most itemized deductions, but the result was to put most things back in in haste. I live in a high tax state that is suing the feds over this. CT tax is based on federal AGI, itemized deductions don't count. The state's participation in the suit therefore must center on state residents missing out on their federal taxes because they pay so much in state taxes. Some states that do allow itemization can and have upped the amount of state taxes their residents can deduct. I'm with Jack on this one. These states are claiming that the federal gov't is harming their residents, when the harm is coming from the states themselves that impose such high taxes on their residents.

I'll send 'em to you! I have found that they always want them yesterday, and want them for free. Neither of which is acceptable to me.