12-02-2017, 02:45 PM
Hawaii does not allow you to deduct/credit Federal taxes.
Only 6 states in the country allow you to deduct your federal taxes from state taxes.
The tax bill before Congress doesn't address those state laws, it only implements changes in federal taxes, which will no longer allow you to deduct state taxes from your federal return.
I fill out a schedule A on my federal return, so it's a deduction that's been helpful over the years. Since I have no kids in public schools, that deduction balanced slightly lower taxes paid to the Feds with the minimal amount of services I received from the state, to some extent.
Only 6 states in the country allow you to deduct your federal taxes from state taxes.
The tax bill before Congress doesn't address those state laws, it only implements changes in federal taxes, which will no longer allow you to deduct state taxes from your federal return.
I fill out a schedule A on my federal return, so it's a deduction that's been helpful over the years. Since I have no kids in public schools, that deduction balanced slightly lower taxes paid to the Feds with the minimal amount of services I received from the state, to some extent.
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves