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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.
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.
On July 4, 2025, President Donald Trump signed the reconciliation bill, known as the “Big Beautiful Bill” (“BBB”), which ...
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New tax bill lifts SALT cap to $40,000; Here's who gains - MSNThe proposed ‘One Big Beautiful Bill Act’ would raise the SALT deduction cap to $40,000, benefiting wealthier taxpayers in high-tax states. Critics warn it could widen inequality and reduce ...
The One Big Beautiful Bill Act's increase of the state and local tax (SALT) deduction cap creates an opportunity to use ...
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The congressman shared how the business provisions in the 'big, beautiful bill' will impact people, and what the ...
Increases the SALT cap to $40,000 in 2025, with 1% annual inflation indexing through 2029. The cap reverts to $10,000 in 2030.
One might expect that an increased State and Local Tax (SALT) deduction cap in the new tax bill would be front and center for ...
The highest average property taxes in Morris County were in Mountain Lakes Borough at $22,996, while Sparta Township topped ...
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