"Increasing the SALT cap from $10,000 to $30,000 or more would have the most impact on homeowners in high-tax states and in high-dollar homes,” says Berner. “An additional $20,000 in ...

The ‘One Big Beautiful Bill Act’ proposes changes to the SALT deduction and could end key business workarounds, sparking ...

The House of Representatives passed its version of the fiscal year (FY) 2025 budget reconciliation bill on May 22 by the narrow margin of 215 to 214, with one Member voting present. The bill, titled ...

Taxpayers in states like New York could save more under the new $40,000 SALT deduction cap. Here's how it would work.

In the ongoing national debate over the state and local tax or SALT deduction cap, a critical truth has been overlooked. The cap itself is not the problem — the problem is the punishing tax ...

The future of President Donald Trump's "Big Beautiful" federal spending bill could come down to SALT tax deductions.

Before President Trump's 2017 tax reform, the SALT deduction rewarded wealthy residents of high-tax states by reducing their federal taxes, while still giving them the same federal benefits.

“SALT very simply stands for state and local tax,” Conboy said. SALT is the ability to deduct high state income and property taxes when filing federal taxes. “In a state like Texas or ...

Individuals earning up to $200,000 could claim $15,000 in SALT deductions under the proposal ... cap falls short of what many lawmakers in high-tax states have advocated. The imposition of ...

Some Republicans are once again targeting a cap on deductions for state and local taxes, aka SALT. The SALT deduction cap affects high-tax states like New York and California significantly.

Few states have more riding on the future of the SALT deduction than New York. With some of the highest property taxes in the country and a high-income ... deduction. The impact is even more ...

Prior to 2017, the unlimited SALT deduction effectively allowed wealthy residents of these high-tax states to write off a big portion of their state tax bills on their federal returns. In other words, ...