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MiBolsilloColombia on MSN23h
GOP's SALT deduction quadruples current limit, but not everyone benefits
The GOP-backed 'One Big Beautiful Bill Act' proposes a significant increase in the SALT deduction limit, aiming to appease ...
The SALT cap isn’t the problem — high-tax states are
Federal taxpayers in fiscally responsible states were subsidizing the excesses of states that refused to rein in their own ...
JD Supra8d
The State and Local Tax Deduction Is in Peril – The Cavalry Does Not Appear to Be on Its Way to Rescue It
Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or ...
Institute on Taxation and Economic Policy6dOpinion
States Should Chart Their Own Course on SALT Deductions
While a federal SALT cap is hotly debated, capping deductibility at $10,000 was an unambiguously good idea at the state level ...
KWQC on MSN4d
How change in tax deductions could impact Illinois
The version passed by the House increases that deduction limit to $40,000. The increase was a big point of contention for ...
What is the SALT cap, and how does it impact California taxpayers?
Breaking that out more, 20% of taxpayers in California’s 40th Congressional District — represented by Kim, it covers eastern ...
CNN7d
Who benefits most from the state and local tax deduction and why raising the cap is contentious
That may further fuel the intraparty battle over the SALT deduction between GOP lawmakers from high-tax blue states ... The cap had an even greater impact on taxpayers in the top 1%, whose ...