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

The SALT deduction cap rose from $10,000 to $40,000 starting in 2025 under the One Big Beautiful Bill Act (OBBBA). According to tax pros who spoke to GOBankingRates, this allows larger itemized ...

Many people feel confused when property taxes rise but federal rules limit what you can deduct. If you itemize deductions, ...

President Donald Trump's "big beautiful bill" raised the limit on the federal state and local tax deduction, known as SALT, to $40,000 for 2025. From 2018 through 2024, the SALT deduction was limited ...

President Donald Trump's "big beautiful bill" raised the state and local tax deduction, known as SALT, to $40,000 for 2025. Taxpayers who itemize tax breaks can claim the SALT deduction, which ...

Among the changes in the One Big Beautiful Bill Act is an adjustment to the state and local tax deduction cap. The bill temporarily increases the SALT deduction cap, allowing taxpayers to deduct a ...

The One Big Beautiful Bill Act (OBBBA or the Act), enacted in July 2025, introduces significant changes to the treatment of state and local tax (SALT) deduction and the alternative minimum tax (AMT).

When you hear that the “One Big Beautiful Bill” (OBBBA) from President Donald Trump raises the state and local tax (SALT) deduction cap to $40,000, it might sound like a meaningful tax break. But once ...

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 ...

As 2025 comes to an end, it is an appropriate time to revisit state and local tax deductions and charitable giving plans. The One Big Beautiful Bill (OBBBA) introduced several updates that may ...