The One Big Beautiful Bill Act that President Trump is expected to sign later today will increase the cap on the itemized deduction for SALT (state and local taxes) from $10,000 to $40,000! In this video, I get into:
- When the new $40,000 SALT cap goes into effect
- How the limitation on the SALT cap based on income works
- What the annual increase in the SALT cap works
- When this increased cap sunsets
#onebigbeautifulbill #taxes #taxtips
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