Pass the SALT? What’s next for this federal tax deduction?

The 2017 Tax Cuts and Jobs Act fundamentally reshaped the federal tax landscape. One of its most controversial provisions was the imposition of a $10,000 cap on the deductibility of state and local ...

Forbes contributors publish independent expert analyses and insights. Joseph J. Thorndike writes about tax history. The state and local tax deduction has been a part of the federal income tax from the ...

States are bracing for one of the most disruptive tax years in recent memory as the One Big Beautiful Bill forces them to rethink how their tax codes line up with federal law, especially the ...

Year-end planning can significantly boost the benefits of new tax changes, helping taxpayers reduce liabilities and maximize ...

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 ...

High-income residents of Democratic-leaning states are on track for substantial refunds early next year, aided by a temporary expansion of the state and local tax (SALT) deduction. President Donald ...

The One Big Beautiful Bill Act made permanent the individual tax cuts from President Trump’s first term and augmented them with additional tax cuts. The average taxpayer in every part of the country ...