The 'Megabill,' championed by President Trump, faces a critical test in Congress over the contentious SALT deduction. With ...

"Increasing the SALT cap from $10,000 to $30,000 or more would have the most impact on homeowners in high-tax states and in high-dollar homes,” says Berner. “An additional $20,000 in ...

Recent SALT deduction changes mainly benefit married couples in high-tax states, raising questions about fairness and economic impact.

Federal taxpayers in fiscally responsible states were subsidizing the excesses of states that refused to rein in their own ...

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

High earners in high-tax states ... The impact was reduced for many taxpayers, however, because the TCJA expanded other tax benefits at the same time it capped the SALT deduction, says Garrett ...

Before President Trump's 2017 tax reform, the SALT deduction rewarded wealthy residents of high-tax states by reducing their federal taxes, while still giving them the same federal benefits.

Individuals earning up to $200,000 could claim $15,000 in SALT deductions under the proposal ... cap falls short of what many lawmakers in high-tax states have advocated. The imposition of ...

“SALT very simply stands for state and local tax,” Conboy said. SALT is the ability to deduct high state income and property taxes when filing federal taxes. “In a state like Texas or ...

Few states have more riding on the future of the SALT deduction than New York. With some of the highest property taxes in the country and a high-income ... deduction. The impact is even more ...

In the ongoing national debate over the state and local tax or SALT deduction cap, a critical truth has been overlooked. The cap itself is not the problem — the problem is the punishing tax ...