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The SALT income tax deduction cap was increased to $40,000 in Trump’s bill. Should you take it?
The measure is often referred to as the SALT income tax deduction. (SALT stands for “state and local taxes.”) It allows taxpayers to deduct from their taxable federal income the amount they pay in state and local taxes, thus lowering their federal tax liability.
On July 4, 2025, President Donald Trump signed the reconciliation bill, known as the “Big Beautiful Bill” (“BBB”), which ...
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To claim your SALT deduction, itemizing might be the only way
Recent changes to the SALT deduction mean itemizing may be your best option. Learn how to make the most of your tax benefits.
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Income tax vs. sales tax: Which saves you more under SALT?
Changes under the OBBBA make choosing between income or sales tax deductions more important than ever for maximizing your ...
The One Big Beautiful Bill Act's increase of the state and local tax (SALT) deduction cap creates an opportunity to use ...
The One Big Beautiful Bill Act (OBBBA), signed by President Donald Trump on July 4, 2025, brings sweeping changes to the tax code. While the name ...
Congress passed a giant tax bill that includes the Senate's SALT changes that allow rich Americans in high-tax states to save money, experts say.
For the next five years, there will be a much more generous state and local tax deduction available to federal income tax filers, thanks to the recently enacted mega tax-and-spending-cuts law.
While a federal SALT cap is hotly debated, capping deductibility at $10,000 was an unambiguously good idea at the state level ...
A new law raising the SALT deduction cap from $10,000 to $40,000 is poised to ease the tax burden on thousands of New Jersey ...
Hawaii homeowners—especially in high-cost areas like Honolulu and Maui—are poised for tax relief as the SALT deduction cap ...
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