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 ...

The federal deduction for state and local taxes for single and joint-filing taxpayers who itemize is $40,000 through 2029.

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 ...

The deduction for state and local taxes is currently capped at $10,000, but the tax bill that just passed in the House would ...

The OBBBA could ease some tax burdens for retirees.

The impasse over the state and local tax (SALT) deduction cap is deepening as Senate Republicans and House moderates from high-tax blue states remain at a loggerheads, a stalled state of play that is ...

Democratic New York Rep. Tom Suozzi has denied having a record of raising taxes, despite backing major local tax hikes as ...

A New York lawmaker aims to reopen negotiations to expand the state and local tax deduction after U.S. lawmakers raised the cap on the break to $40,000 last year if Congress attempts to pass a second ...

The cap increased from $10,000 to $40,000 Property and income taxes are the main drivers for deductions The standard deduction also increased Before the 2018 tax and spending bill under the first ...