Could the elimination or capping of the salt deduction lead to changes in state tax policies?

Expenses that are eligible for the itemized deductions include the SALT deduction (up to the $10,000 cap), tax deductible mortgage interest, charitable gifts, ... Aug 12, 2024 ... I am fighting in Washington to increase the cap on the state and local tax (SALT) deduction. This would provide much-needed financial relief for New Yorkers. Feb 22, 2022 ... This will enable owners to take a full deduction of this state tax on their federal tax returns. ... SALT deduction will be limited to $10,000 ... Mar 12, 2025 ... Enacted via the Tax Cuts and Jobs Act, or TCJA, of 2017, there's currently a $10,000 limit on the federal deduction on state and local taxes, ... The $10,000 U.S. cap on deductions for state and local taxes (SALT) is, understandably, on the minds of many taxpayers in high-tax states, especially with ... Mar 6, 2025 ... Be Wary of Pre-Emptive Tax Planning on Itemized Deductions & SALT · The $10,000 cap on state and local tax (SALT) itemized deductions is set to ... Aug 25, 2021 ... The SALT deductions are limited by a new cap of. $10,000, effective 2018. The unique impact of the new SALT deduction cap on home prices is. Oct 28, 2017 ... According to the Tax Foundation, nearly 90 percent of the value of the deduction goes to families making more than $100,000. Lawmakers, along ... Feb 7, 2025 ... What is the SALT Deduction Cap? The Tax Cuts and Jobs Act (TJCA) of 2017 established a cap on the SALT tax deduction of $10,000 per tax return ... Apr 10, 2025 ... The SALT deduction allows taxpayers who itemize to deduct state and local taxes from their federal taxable income. · The deduction was capped at ...