The 'Great Beautiful Law' temporarily raises the SALT deduction cap to $40,000 starting in 2025, offering relief to many taxpayers. However, a phaseout mechanism could lead to higher effective tax ...

The $40,000 cap would begin this year, with the same $500,000 income phaseout, and both figures would rise by 1% annually ...

The new GOP tax law quadruples how much people can deduct in state and local taxes off their federal returns, offering significant relief to high earners in many Democratic-led states by partially ...

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 ...

The latest SALT deduction change could mean thousands in tax savings for small businesses. But it’s won't be a permanent staple.

Final tax reform bill preserves SALT and PTET deductions for traders and professionals, avoiding SSTB carve-outs and ensuring ...

Senate Republicans passed changes to the federal deduction for state and local taxes, known as SALT. Here's how the SALT ...

Lawmakers are close to a deal that would raise the SALT cap to $40,000—offering potential tax relief for homeowners in ...

President Donald Trump’s "One Big Beautiful Bill Act" is now law. So when does it take effect? Here's a look at when its ...

Getting your Trinity Audio player ready... On July 4, the “One Big Beautiful Bill” was signed into law making it the “One Big Beautiful Act” and enacting sweeping changes to the Internal Revenue Code.

This move marks a reversal in policy on SALT deductions, one of the most contentious features of the 2017 Tax Cuts and Jobs Act.

Senate Republicans coalesced to pass President Donald Trump's colossal "big, beautiful bill" early Tuesday morning, which ...