The SALT deduction is a federal itemized deduction for certain state and local taxes you paid during the tax year. You can only deduct state and local income taxes (or sales taxes), real property ...

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 ...

On July 4, 2025, President Donald Trump signed the reconciliation bill, known as the “Big Beautiful Bill” (“BBB”), which covered many of his campaign promises. This reconciliation, centering upon ...

How does the deduction work? Here's what to know about the federal write-off for state and local taxes. A deduction to defray homeowners' state income taxes and local property taxes is getting much ...

The SALT deduction is only available to taxpayers who itemize their deductions rather than claiming the widely used standard deduction The decision on whether to take the standard deduction or itemize ...

CPAs and advisors are warning clients to maximize their charitable deductions before year-end. That’s because the massive tax and budget legislation known as the One Big Beautiful Bill Act, which ...

President Donald Trump's "big beautiful bill" raised the limit on the federal state and local tax deduction, known as SALT, to $40,000 for 2025. From 2018 through 2024, the SALT deduction was limited ...

President Donald Trump's "big beautiful bill" boosted the SALT deduction limit to $40,000 for 2025, up from the previous $10,000 cap. The SALT deduction includes property taxes plus either state and ...

Before the 2018 tax and spending bill under the first Donald Trump presidency, it was expected that at least one person every year would bring certified public accountant Cap Willey a shoebox full of ...

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 ...