Reply To: The New Tax Law – 2018 – How it affects frum families

Home Forums Money & Finance The New Tax Law – 2018 – How it affects frum families Reply To: The New Tax Law – 2018 – How it affects frum families

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Gadolhadorah
Participant

A lot depends on the combined income of the husband/wife, their investment income and how they are affected by AMT (as a function of their other deductions. The way this bill was drafted and the loss of the SALT deductions over $10K (for income taxes but not property taxes) a family in NYS/NJ/CA will be affected differently than those in FL or TX. The families hurt most are generally upper middle income with combined incomes in the $250-$400K/year taxable income living in a high tax state

P.S. The average orthodox family in the U.S. has 4 kids, NOT 8….