state and local tax deductions
State and local tax deductions refer to the tax benefits that individuals can claim on their federal tax return for the taxes they have paid to state and local governments. This deduction allows taxpayers to reduce their taxable income by the amount of state and local taxes they have paid, potentially resulting in lower overall tax liability.
Requires login.
Related Concepts (2)
Similar Concepts
- corporate tax deductions
- estate tax deductions
- estate tax deductions and credits
- homeowner tax deductions
- real estate tax deductions
- social security deductions
- state and local taxes deductions
- state estate taxes
- state income taxes
- state tax laws
- tax deductions
- tax deductions and loopholes
- tax deductions for education expenses
- tax deductions for small business owners
- tax exemptions and deductions