State tax deduction 10k cap

State tax deduction 10k capUnder the new tax regulations, the state and local tax deduction is capped at 10k. What does that mean?Assume you paid $6,000.00 in property tax, $12,000.00 in State income tax, and you purchased a car and paid $2000.00 in tax in a given year. Prior to the tax reform, you would […]