Pass the SALT? What’s next for this federal tax deduction?

The "One Big Beautiful Bill" (OBBB) that President Trump signed into law on July 4 made significant changes to the deduction for State and Local Taxes—nicknamed the "SALT" deduction. These changes ...

Add Yahoo as a preferred source to see more of our stories on Google. California and New Jersey are two of the states that would benefit from a SALT deduction increase. A new tax deal in Washington ...

The SALT deduction changes will most likely help wealthier taxpayers in high-tax states like Illinois, especially if they have many expenses to itemize. Because of Illinois’ high property taxes, some ...

The 2017 Tax Cuts and Jobs Act fundamentally reshaped the federal tax landscape. One of its most controversial provisions was the imposition of a $10,000 cap on the deductibility of state and local ...

Less than eight years ago, Congress enacted the sweeping Tax Cuts and Jobs Act. Now a cadre of House Republicans has threatened to let key TCJA provisions expire unless Congress agrees to ...

House Republicans in Democrat-controlled states are firing a warning shot at the Senate as it considers President Donald Trump's "one big, beautiful bill." GOP lawmakers in New York and California ...

Forbes contributors publish independent expert analyses and insights. Leading writer and speaker in the area of trader tax benefits. Even with a temporary $40,000 SALT cap, high earners face phaseouts ...

States are bracing for one of the most disruptive tax years in recent memory as the One Big Beautiful Bill forces them to rethink how their tax codes line up with federal law, especially the ...

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 ...