News

14.7% of Homeowners In Illinois Will Benefit From The New SALT Deduction Changes
The move slashes the share of over-cap taxpayers from 14.7% to just 1.1%, offering new flexibility for middle-class owners.
New Jersey’s New SALT Deduction Rules Could Help Homeowners Keep More Money
New Jersey ranks among the highest states with share of homeowners who currently pay more than $10,000 in annual property ...
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Republicans Eye $30,000 SALT Cap in Tax Package Negotiations
House Republicans are considering raising the SALT deduction cap to $30,000 as part of Trump's tax package. Speaker Mike ...
SALT deduction cap boosted to $40,000 — here’s who stands to get the biggest tax break
The new tax law hiked the SALT deduction cap to $40,000. That’s good news for taxpayers in high tax states, but it’s a ...
Institute on Taxation and Economic Policy1dOpinion
States Should Move Quickly to Chart Their Own Course on SALT Deductions
While a federal SALT cap is hotly debated, capping deductibility at $10,000 was an unambiguously good idea at the state level ...
3 Tax Breaks That Will Change This Year Because of the 'Big, Beautiful Bill'
The "One Big, Beautiful Bill" increases two significant tax deductions, but cuts clean energy tax credits for the 2025 tax ...
The SALT deduction is now much more generous. Here’s how to get the most out of the tax break.
The deduction is rising to at least $40,000, from its current $10,000 limit. That amount will increase each year through 2029 ...
Trump’s ‘Big Beautiful Bill’: The complete tax guide for high-income earners
Range reports that Trump’s “Big Beautiful Bill” offers significant tax changes for high earners, including increased estate ...
New SALT Cap Could Slash Property Tax Pain for Homeowners in These High-Tax States
A new $40K SALT cap could deliver long-awaited tax relief to homeowners in high-cost states like NJ, NY, and CA by cutting ...
High income taxpayers in California and New York set for a SALT windfall in 2026
The Republican party is heralding its new tax legislation as a win for middle income Americans. But the most substantial tax ...
The new $40,000 cap on SALT deductions in Trump’s big bill aids homeowners most in these cities
The One Big Beautiful Bill Act is temporarily quadrupling the state and local tax deduction to at least $40,000, up from ...
Who will — and won’t — benefit from the bigger SALT deduction
For the next five years, there will be a much more generous state and local tax deduction available to federal income tax filers, thanks to the recently enacted mega tax-and-spending-cuts law.