Wed, July 9, 2025 at 5:22 PM UTC The sweeping new tax law that President Donald Trump signed into law on July 4 includes a valuable, but temporary, boost to the state and local tax (SALT) deduction: ...
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Homeowners: The SALT deduction is going up to $40,000. Here’s how to get the most out of it.
Homeowners now have the chance to write off much more of their state and local tax bills, and this could potentially lead to bigger tax refunds. That’s if they play their cards right on the SALT ...
On July 1, 2025, the One Big Beautiful Bill Act, H.R.1 – 199 th Congress (2025-2026) (the “Act”) was passed in the U.S. Senate (“Senate”). On July 3, 2025, it was passed in the U.S. House of ...
Now that the 2025 federal tax bill has been signed into law, it’s appropriate to revisit one of its most news-making elements: the federal deduction for state and local taxes (SALT). The new SALT ...
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. The new ...
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Where the Megabill Landed on the SALT Deduction
The fight over deductions for state and local taxes almost sunk President Trump’s megabill, which is headed to his desk with a new $40,000 cap on the deductions, up from $10,000. The megabill also ...
The recently enacted OBBBA introduces several compelling new planning opportunities for high-net-worth individuals and families to consider. Among the most impactful changes is the increase to the ...
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