News
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.
MiBolsilloColombia on MSN8h
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.
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.
Soy Nómada on MSN6h
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 ...
On July 4, 2025, President Donald Trump signed the reconciliation bill, known as the “Big Beautiful Bill” (“BBB”), which ...
Higher federal income tax offsets for state and local tax payments have morphed into a mostly upper-middle-class political ...
The One Big Beautiful Bill Act's increase of the state and local tax (SALT) deduction cap creates an opportunity to use ...
Now, a dramatic change is in motion. Congress has approved a new $40,000 cap on state and local tax (SALT) deductions, and it’s headed to the President’s desk.
New York homeowners are set to gain from a major SALT deduction overhaul, with the cap rising from $10,000 to $40,000. The ...
Some results have been hidden because they may be inaccessible to you
Show inaccessible results
Feedback