President Donald Trump's "big beautiful bill" increased the SALT deduction limit to $40,000 for 2025. Here's how that could affect your tax return this season.

Run the numbers: For 2025, the standard deduction is $31,500 for married couples and $15,750 for singles. If your total itemized deductions — including mortgage interest, charitable giving, and state ...

As a homeowner, you know that your taxes can get complex. Now, with the One Big Beautiful Bill Act (OBBBA) signed into law, you may be wondering what changes you ...

Donation Options Search Search Search The SALT deduction changes will most likely help wealthier taxpayers in high-tax states like Illinois, especially if they have many expenses to itemize. Eric ...

The 2025 tax and spending bill temporarily increases the SALT deduction cap from $10,000 to $40,000 for households with AGI under $500,000. Learn who benefits.

Many New York, New Jersey and California residents are enjoying supercharged tax savings this year from a provision in ...

An increase in the deduction limit sounds like great news for high earners — but a big tax penalty could be headed your way.

The SALT deduction, which was temporary under the OBBBA Act, raised it from $10,000 to $40,000 if your income is under $500,000. The new senior deduction is a $6,000 deduction you get just for being ...

A recent article reported on a study that claimed the federal tax bill passed last year would unduly favor wealthy Connecticut towns and taxpayers. Statistics were provided that showed billions in tax ...

The state and local tax deduction is a federal income tax provision that allows taxpayers who itemize deductions to subtract certain state and local taxes — chiefly income, property and sales taxes — ...

Tax season 2026 is here, and the savvy tax filer can take advantage of increases made to the SALT deduction this year. According to Thomson Reuters, the SALT deduction will bring particular relief to ...