The SALT deduction temporarily jumped to $40K under Trump’s tax reform, and the $750K mortgage interest cap is now permanent, boosting homeowner savings.
In this episode of Tax Notes Talk, Steve Kralik of Armanino discusses the One Big Beautiful Bill Act’s implications for state tax, including the new version of the SALT cap and how states may conform ...
The new SALT deduction was supposed to give homeowners in high-tax states a break. By quadrupling the amount of state and local taxes they could deduct from their federal return, these homeowners ...
The state and local tax deduction has always been a political flashpoint, but its impact goes far beyond politics. With Congress having expanded the SALT deduction in the new tax law, businesses need ...
According to the Tax Policy Center, the average household is expected to save approximately $2,900 under the new law in 2026.
President Trump's controversial tax plan, commonly known as the One Big Beautiful Bill (OBBBA), contains a series of significant tax cuts for individuals. While the average savings per individual in ...
The Internal Revenue Service (IRS) released its new tax brackets and rates for the upcoming tax filing year. Yahoo Finance ...
"There are advantages for states not to conform to the federal tax changes as non-conformity allows states to protect their budgets and residents from unpredictable or unfavorable federal tax policy ...
Homeowners in some of the most expensive housing markets in the country could reduce their annual tax bills by thousands of dollars thanks to a higher SALT cap, which is set to increase by 1 percent ...
Tax strategy doesn’t just happen in April. While it may feel like you just filed your 2024 taxes a minute ago, the time to set yourself up for success in your 2025 taxes is now. Most high earners with ...