MiBolsilloColombia on MSN
SALT deduction cap rises to $40,400 for high-tax state residents
The One Big Beautiful Bill Act (OBBBA) introduces a significant change for taxpayers in high-tax states by raising the SALT ...
The new tax bill also temporarily raises the cap on the state and local tax (SALT) deduction to $40,000, up from $10,000. The ...
The SALT deduction is only available to taxpayers who itemize their deductions rather than claiming the widely used standard deduction The decision on whether to take the standard deduction ...
MiBolsilloColombia on MSN
Tax season game-changer: Why the new SALT deduction rules are saving homeowners thousands this year
The One Big Beautiful Bill Act temporarily raises the SALT deduction limit, offering potential tax savings of thousands of ...
A sweeping federal law passed last year could have impacts on 2025 tax returns for millions of American taxpayers. The ‘big, ...
On July 4, 2025, President Donald Trump signed the reconciliation bill, known as the “Big Beautiful Bill” (“BBB”), which covered many of his campaign promises. This reconciliation, centering upon ...
You’ll find new deductions and new forms when you file taxes this year, thanks to the One Big Beautiful Bill Act.
The standard deduction for single taxpayers increased to $15,750 for tax year 2025. It also increased to $23,625 for the head ...
While many households will see higher refunds this year, they may be far smaller than promised and offset by higher tariffs ...
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