The Republican-led U.S. House of Representatives passed a bill on Thursday that would allow a deduction of up to $40,000 on federal returns for state and local taxes, known as SALT. A previous ...

This federal deduction for state and local taxes — the SALT deduction, for short — has a big influence on how the tax burden is divided. It tends to help taxpayers in wealthier, more urban ...

The bill retains the current tax rates while including NAR-supported provisions, including a qualified business income deduction increase and the SALT deduction. WASHINGTON — The U.S. House of ...

This has seemingly been forgotten in the ongoing debate about state and local taxes (SALT), and the deduction of those payments against federal taxes paid. It’s a reminder that when the Tax Cuts ...

One of the more contentious issues has been how to address the $10,000 SALT cap. Lawmakers from high tax states (including New York, New Jersey, and California) believed they had the upper hand in ...

It disappears at $600,000. If you earn that much, your SALT deduction limit remains $10,000 and you can stop reading (unless you’re a tax nerd). “The big takeaway on SALT is that the increase ...

House Republicans cleared a major hurdle over the weekend in advancing a sweeping package of President Trump’s tax proposals, ...

As "One Big Beautiful Bill Act" is expected to reduce taxes, experts argue whether it will cater to the value or growth ...

The House Rules Committee advanced President Trump's "One Big Beautiful Bill Act" in an 8-4 vote following a marathon 22-hour ...