On July 4, 2025, President Donald Trump signed the reconciliation bill, known as the “Big Beautiful Bill” (“BBB”), which ...

The agreement in July ended eight years of wrangling by New York political leaders, from both parties, who argued that the $10,000 cap on so-called SALT deductions, established in the 2017 Jobs and ...

The measure is often referred to as the SALT income tax deduction. (SALT stands for “state and local taxes.”) It allows ...

Understanding the intricacies of the State and Local Taxes (SALT) deduction is crucial for optimizing your tax strategy. With ...

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.

What the deduction does is all in the name. It allows taxpayers to deduct what they owe in state and local taxes from their federal income taxes. The OBBBA raises the cap on how much taxpayers can ...

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 ...

Gov. JB Pritzker and his fellow Democrats have been unrelenting in their criticisms of the tax and spending plan President ...

Washington state homeowners—especially in Seattle’s booming market—are expected to benefit from the SALT cap rising to ...

Higher federal income tax offsets for state and local tax payments have morphed into a mostly upper-middle-class political ...

House Republicans are considering raising the SALT deduction cap to $30,000 as part of Trump's tax package. Speaker Mike ...

The One Big Beautiful Bill Act reinstated a provision that significantly enhances the state and local tax (SALT) deduction cap for tax years 2025 through 2029, raising it from $10,000 (set by the ...