President Donald Trump's "big beautiful bill" increased the SALT deduction limit to $40,000 for 2025. Here's how to maximize the tax break.

An increase in the deduction limit sounds like great news for high earners — but take cover, because a high-speed tax penalty ...

Senate Republicans on Tuesday passed changes to the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump’s multitrillion-dollar spending bill. Passed via the ...

EMANI FLEMING IN THE NEWSROOM. WITH THAT EMANI. WELL, STEVE, THAT TAX DEDUCTION IS CALLED THE SALT CAP. AND IT STANDS FOR STATE AND LOCAL TAX AND REFERS TO AN INDIVIDUL’S ABILITY TO DEDUCT SOME OF ...

A trio of key moderate House Republicans say they are rejecting the latest offer from Senate Republicans and the White House on the state and local tax (SALT) deduction cap, heightening the ...

On June 16, 2025, the Senate Finance Committee released a draft package that includes a major provision aimed at curbing the use of state pass-through entity taxes (PTETs) to bypass the federal ...

After weeks of deliberation, revisions, and intense advocacy, the Senate and House have passed the final version of the One Big Beautiful Bill Act (OBBBA, H.R. 1), sending it to President Trump for ...

When you itemize tax breaks, you can claim the SALT deduction, which includes state and local income taxes and property taxes. Trump's 2017 tax cuts added a $10,000 cap on the SALT deduction through ...

On June 16, 2025, the U.S. Senate released its version of the budget reconciliation bill (“Senate bill”), making several changes to the House-passed version from May 22, 2025 (“House bill”). One major ...

President Donald Trump’s ‘big beautiful bill’ delivers a temporary higher limit on the federal deduction for state and local taxes, known as SALT. But the phaseout, or income-based benefit reduction, ...

A federal judge last Wednesday said an eight-month-old wage lawsuit against the restaurateur and salt-sprinkling social media icon Nusret Gökçe can now include every person who has worked in a tipped ...

Senate Republicans on Tuesday passed changes to the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump’s multitrillion-dollar spending bill. Passed via the ...