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2 lut 2024 · The proposed law, called the SALT Marriage Penalty Elimination Act, would raise the cap on state and local tax deductions from $10,000 to $20,000 — but only for the 2023 tax year.
16 lut 2024 · The movement to roll back limits on how much state and local taxes Americans can deduct on their federal returns took a hit Wednesday when a vote to advance a SALT relief bill failed in the House...
7 lis 2024 · 1:06. During the recently completed presidential campaign, Donald Trump promised to lift the controversial $10,000 cap on state and local property tax deductions, known as SALT, if he regained the ...
7 gru 2021 · Key Points. Congressional Democrats are negotiating changes to the $10,000 cap on the federal deduction for state and local taxes, known as SALT. However, nearly 20 states now offer a workaround...
16 lip 2024 · Ted Peterson of the University of North Texas Ryan College of Business discusses the SALT deduction cap and its potential paths forward as the 2025 sunset date approaches.
2 dni temu · Michael J. Bologna. States may need to rethink their state and local tax deduction workarounds now that Donald Trump’s return to the White House and Republican control of the Senate is making an increase—or possibly full removal—of the $10,000 SALT cap more likely in 2025. In total, 36 states and New York City permit pass-through entities ...
9 sie 2024 · Both the SALT limitations and the doubled standard deduction expire after 2025, putting SALT on the 2025 menu for lawmakers. Below, we provide a brief history of SALT from 1913 to present and look at how the deduction will change after 2025 if Congress allows the $10,000 cap to expire.
