Trump vowed to lift SALT tax deduction cap. That will help NJ
6 days ago · Most of the tax relief from lifting the SALT cap, for instance, would go to households earning between $200,000 and $500,000, according to a February report from the Tax …
SALT Deduction: Three Things to Know Now Given the Election
Sep 18, 2024 · The SALT deduction incentivizes higher state and local taxes, potentially leading to less efficient government spending. Removing the cap would significantly reduce federal …
SALT tax deduction: Here’s why taxpayer relief is still likely next ...
Feb 16, 2024 · The movement to roll back limits on how much state and local taxes Americans can deduct on their federal returns took a hit Wednesday when a vote to advance a SALT …
Trump created the controversial $10,000 SALT deduction cap ... - CBS News
Sep 18, 2024 · In a post Tuesday on Truth Social, Trump suggested he would scrap a $10,000 cap on deducting state and local taxes (SALT) that was passed as part of the 2017 Tax Cuts …
GOP Wins Signal Changes to SALT Cap and to State Workarounds
1 day ago · Michael J. Bologna. States may need to rethink their state and local tax deduction workarounds now that Donald Trump’s return to the White House and Republican control of …
A Trump-era tax law could get an overhaul. Millions could ... - CBS News
Feb 2, 2024 · At stake is the so-called state and local tax deduction, or the SALT deduction, which was limited to $10,000 in Trump's signature tax law. But a new proposal would lift the cap to …
The SALT Cap After 2025 - Forbes
Jul 16, 2024 · Ted Peterson of the University of North Texas Ryan College of Business discusses the SALT deduction cap and its potential paths forward as the 2025 sunset date approaches.
Trump says he would uncap the SALT tax deduction, a California …
Sep 18, 2024 · A cap on the federal tax deduction for state and local taxes, or SALT, was a controversial part of Trump’s 2017 tax overhaul in states with high taxes and property values, …
House blocks effort from New York Republicans to boost 'SALT' tax ...
Feb 14, 2024 · The so-called SALT cap has led to bigger tax bills for many residents of New York, New Jersey, California and other high-cost, high-tax states, and is an important campaign …
How raising the SALT deduction limit to $80,000 may affect your taxes
Dec 9, 2021 · House Democrats’ $1.75 trillion spending package boosts the limit on the federal deduction for state and local taxes, known as SALT, to $80,000 through 2030. However, many …