I'm not a tax accountant, but...
The tax laws increased the standard deduction so that less people itemize.
Also, the new tax law change limited SALT (State and Local Taxes), which tend to be higher in blue states, to $10k/year, so less people itemize.
I think the charitable deduction limit is 60% of AGI.
Nicole Kidman's probably paying more than $100k/year to her tax accountant to make sure she can deduct as much of the $100k/year....and probably also doesn't care how much the $100k is actually costing her net of tax. |
