What role do tax advisors play in helping taxpayers with the salt deduction?

Jan 17, 2018 ... Explain the new federal tax law's limit on the state and local tax (SALT) deduction. How does the limit impact Connecticut taxpayers and the ... Feb 18, 2025 ... The 2017 Tax Cuts and Jobs Act (TCJA) dramatically limited the reach of the SALT deduction, prohibiting each household from deducting more than ... The 2017 Tax Cuts and Jobs Act (TCJA) wisely capped the value of the SALT deduction at $10,000, which helped provide resources that were used to reduce tax ... 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 ... 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 ... Sep 14, 2021 ... Correa Statement on SALT deduction being excluded in reconciliation package. Washington, D.C. — Today, Congressman Lou Correa (D-CA) released ... Expenses that are eligible for the itemized deductions include the SALT deduction (up to the $10,000 cap), tax deductible mortgage interest, charitable gifts, ... 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 ... 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 ... Feb 20, 2025 ... The state and local tax (SALT) deduction allows most taxpayers to subtract up to $10,000 in paid property, income, or sales taxes from their ...