News

Self Employed on MSN2d
Trump Proposes SALT Deduction Cap Increase to $40,000
The SALT deduction allows taxpayers who itemize their federal returns to deduct certain taxes paid to state and local ...
Crain's Chicago Business5h
Bigger SALT deduction will benefit Illinois taxpayers
The SALT deduction is limited to those making less than $500,000 per year, which includes roughly 98% of taxpayers. According ...
New SALT Deduction Could Put Thousands Back in California Homeowners’ Pockets
The federal state and local sales tax (SALT) deduction cap is higher this year, and could translate into bigger savings for ...
14.7% of Homeowners In Illinois Will Benefit From The New SALT Deduction Changes
Illinois homeowners—long burdened by some of the nation’s steepest property taxes—will see relief as the SALT deduction cap ...
New York Homeowners Could Save Thousands Thanks to New SALT Deduction Changes
New York homeowners are set to gain from a major SALT deduction overhaul, with the cap rising from $10,000 to $40,000. The ...
Soy Aire on MSN18d
$4,000 SALT deduction confirmed, this is how it works
President Donald Trump's recent spending bill introduces a significant change to the State and Local Tax (SALT) deduction, raising the cap from $10,000 to $40,000. This adjustment promises substantial ...
New SALT Cap Deduction: Unlock Massive Tax Savings With Non-Grantor Trusts
The One Big Beautiful Bill Act's increase of the state and local tax (SALT) deduction cap creates an opportunity to use ...
HousingWire3d
Where — and for whom — Trump’s higher SALT deduction cap has the most impact
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 ...
Who will — and won’t — benefit from the bigger SALT deduction
The new law lifts what had been a $10,000 cap to $40,000 for tax year 2025 and then adjusts it upward by 1% a year for 2026, ...
15.6% of Homeowners In Washington, D.C. Will Benefit From The New SALT Deduction Changes
In a city where high property values and tight inventory strain affordability, the expanded deduction offers fresh breathing ...
Institute on Taxation and Economic Policy2monOpinion
States Should Move Quickly to Chart Their Own Course on SALT Deductions
While a federal SALT cap is hotly debated, capping deductibility at $10,000 was an unambiguously good idea at the state level ...
MyNorthwest2dOpinion
Gee argues federal $40K tax write-off favors wealthy WA homeowners
As part of President Donald Trump’s “big, beautiful bill,” the federal cap on state and local taxes (SALT) has been raised ...