What are the rules for deducting sales taxes instead of income taxes?

Feb 12, 2025 ... $15,000/$30,000 SALT Cap: The current SALT deduction cap would be increased to $15,000 for individual taxpayers and $30,000 for married couples, ... Apr 7, 2025 ... Key takeaways · You can claim the SALT deduction only if you itemize. · The SALT deduction lets you deduct a variety of state and local taxes, ... 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. Oct 5, 2024 ... I often see many progressives in support of the SALT Deduction, despite the fact that it is effectively just a major handout to rich people. Feb 8, 2025 ... We strongly urge you to include a full repeal of the State and Local Tax (SALT) deduction cap in any tax-related legislation brought to the ... Sep 20, 2024 ... House lawmakers are now strategizing how to maintain what could be an unlimited SALT tax deduction in the next Congress. Dec 20, 2019 ... ... deduction (SALT). President Trump and Republican's 2017 tax bill cut the deduction, causing 87800 households to face property tax increases ... Jan 27, 2025 ... As an individual, your deduction for state and local taxes (SALT) (lines 5a, 5b and 5c on Schedule A of Form 1040) is limited to a combined ... Sep 1, 2021 ... We can help. roundtable meeting. Make sure you understand how the SALT Deduction Cap will impact you. ... The Tax Cuts and Jobs Act of 2017 (“TCJA ... Oct 19, 2017 ... The tax plan from President Trump and congressional Republican leaders would end the federal deduction for state and local taxes (SALT).