SALT Deduction Impact

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SALT, tax deductions

These High Tax States Could Benefit the Most From Higher SALT Deduction

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 tax rate layered on top, New York residents are disproportionately affected by the current $10,000 cap on state and local tax deductions.

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Who benefits most from the state and local tax deduction and why raising the cap is contentious

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House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers. Here's who could benefit

Tips Act, tax law and Senate Passes Bill

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How Trump’s big bill could affect your taxes

President Trump’s bill to cut taxes and spending centers on an extension of his previous round of tax cuts, which Republicans slated for expiration at the end of this year back in 2017. As such,

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No Tax on Tips Act: What It Means for You as Senate Passes Bill

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What the No Tax on Tips Act Means for Servers, Bartenders, and the Broader Economy

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Who benefits from SALT changes? New data shows married couples gain the most

Recent SALT deduction changes mainly benefit married couples in high-tax states, raising questions about fairness and ...

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Californians could get bigger state, local tax deductions. Why that matters

Some congressional lawmakers are trying to lift Trump-era caps on state and local tax deductions as part of the new ...

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How SALT deductions could impact Illinois

SALT currently lets people deduct $10,000 from their taxes if they itemize when they file. The version passed by the House ...

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The State and Local Tax Deduction Is in Peril – The Cavalry Does Not Appear to Be on Its Way to Rescue It

Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or ...

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A $40,000 SALT Cap Would Be a Boon to Homeowners Living in the U.S.’s Priciest Cities

SALT allows taxpayers to deduct state and local taxes, including property tax, from their federal tax bill if they itemize ...

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Why the PTET SALT deduction is the AICPA’s ‘No. 1 priority’

We have a call to action on the passthrough entity SALT deduction because it has a huge impact to our members and, of course, their clients, too. Then with regards to the IRS, that is something ...

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What is SALT and why does it threaten Trump's 'Big Beautiful Bill?'

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

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