The One Big Beautiful Bill Act's increase of the state and local tax (SALT) deduction cap creates an opportunity to use ...

The SALT deduction allows taxpayers who itemize their federal returns to deduct certain taxes paid to state and local ...

The $10,000 cap on SALT deductions was levied in 2017 as part of the Tax Cuts and Jobs Act spearheaded by the first Trump administration. The cap is set to expire at the end of the year.

Enacted via the Tax Cuts and Jobs Act, or TCJA, of 2017, there's currently a $10,000 limit on the SALT deduction, and raising that cap has been a priority for certain House lawmakers in high-tax ...

The new tax law hiked the SALT deduction cap to $40,000. That’s good news for taxpayers in high tax states, but it’s a temporary boost.

The House tax plan raises the SALT cap to $40,000 for most taxpayers and creates new income limits for those earning more than $500,000.This design would provide a full SALT deduction for well ...

When the 2017 tax reform was originally passed, 12 House Republicans voted against it in part because of the SALT cap. But the GOP has a much smaller majority this time around.

The law raises the SALT cap from $10,000 to $40,000 for five years with a phase out for taxpayers that earn over $500,000 a year. Answer five simple questions about your taxes to see your ...

Remove the cap completely: Others said there should be no cap at all, so people can deduct all their state and local taxes. Set a new higher cap: Another idea was a $50,000 cap for individuals and ...

How a New $40,000 SALT Cap Would Affect Your Tax Bill A single high-earner might get a boost, but a modest-income married couple might not By Ashlea Ebeling and Richard Rubin ...