How does the salt deduction affect the financial planning of individuals preparing for retirement?

Feb 2, 2024 ... A married couple with an income of $499,999 can claim up to $20,000 in SALT deductions. A couple with an income of $500,000 can only claim up to ... Nov 4, 2024 ... The SALT Deduction Fight Is Coming Back—Whoever Wins the Election · Lawmakers in states including California and New York chafe at the $10,000 ... Jan 9, 2025 ... According to press reports, policymakers are considering changes to the $10,000 state and local tax (SALT) deduction cap as part of their ... Mar 13, 2019 ... This blog focuses on what the reduced deduction means for taxpayers, especially in high-tax states like California, New York and New Jersey. State and Local Tax (SALT) Deduction. The state and local tax (SALT) deduction permits taxpayers who itemize when filing federal taxes to deduct certain taxes ... 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 ... Mar 30, 2023 ... Essentially, this provides a workaround for the SALT deduction limitation by allowing the PTE to pay for and deduct SALT before income is passed ... Oct 9, 2017 ... The deduction for state and local taxes (SALT), long distained by policy experts on both sides of the aisle, seems likely to survive its most recent near-death ... Feb 3, 2023 ... an itemized deduction on their federal income tax returns. The TCJA was passed in late 2017 and limited the SALT deduction to $10,000. The ... Sep 14, 2021 ... Correa Statement on SALT deduction being excluded in reconciliation package. Washington, D.C. — Today, Congressman Lou Correa (D-CA) released ...