Trump tax returns show former president was subject to $10,000 SALT cap -- but experts say he may

[Yo_Mama_Been_Loggin]

have sidestepped the limit

Former President Donald Trump paid millions of dollars in state and local taxes from 2015 through 2020, according to income tax returns publicly released Friday by the House Ways and Means Committee.

But while the returns show associated tax deductions were capped at $10,000 a year starting in 2018 — due to a tax law that took effect that year — experts say Trump may have been able to bypass the cap via a workaround involving certain business entities.

Doing so would have given him a bigger federal tax break — and sidestepped a contentious tax policy in one of his signature legislative achievements, known as the Tax Cuts and Jobs Act, experts said.

"Just because there was a $10,000 cap, there are ways for him to get around that limit post-2017," said Richard Winchester, a tax policy expert and associate law professor at Seton Hall University School of Law.

https://www.msn.com/en-us/money/markets/trump-tax-returns-show-former-president-was-subject-to-10-000-salt-cap-but-experts-say-he-may-have-sidestepped-the-limit/ar-AA15Pe0X

Except he signed the SALT limits into law. It was the GOP's way of sticking it to the higher taxed liberal states,

[uponit7771]

1. All of these should be easy catches by the IRS, they should mostly be correspondence audits. There's

... something wrong at the IRS when easy stuff like this gets past them

[SoCalDavidS]

3. When You're Teflon Man, Laws Don't Apply 2 U. nt

[MOMFUDSKI]

2. Simple.

2 sets of Rules and Tax Codes now. One for us and one for the special people. Like Carlin said, "It's a big club and you ain't in it".