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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.
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To claim your SALT deduction, itemizing might be the only wayRecent changes to the SALT deduction mean itemizing may be your best option. Learn how to make the most of your tax benefits.
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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 ...
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Congress is in the midst of its August break, and Rep. Blake Moore, R-Utah, who is in Utah for the break, answered reporters' ...
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 ...
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