News

Republicans’ deal on SALT deduction has changed again. How would it impact you?
Republican lawmakers in the House appeared to have reached a new agreement late Tuesday on the state and local tax deduction, ...
Californians could get bigger state, local tax deductions. Why that matters
Some congressional lawmakers are trying to lift Trump-era caps on state and local tax deductions as part of the new ...
JD Supra6d
The State and Local Tax Deduction Is in Peril – The Cavalry Does Not Appear to Be on Its Way to Rescue It
Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or ...
FingerLakes1.com7h
SNAP, Medicaid cuts hit NY in new federal budget
A newly passed federal budget bill could cut billions from SNAP and Medicaid in New York while raising the SALT deduction cap ...
CBS News2d
Some homeowners could get a fat deduction under the new GOP tax bill. Here's what to know.
The SALT deduction cap was introduced by Mr. Trump ... a University of Pennsylvania nonpartisan group that analyzes the fiscal impact of policy. That adds to the cost of a bill that has been ...
KWQC on MSN2d
How change in tax deductions could impact Illinois
The version passed by the House increases that deduction limit to $40,000. The increase was a big point of contention for ...
JournalofAccountancy4d
Why the PTET SALT deduction is the AICPA’s ‘No. 1 priority’
We have a call to action on the passthrough entity SALT deduction because it has a huge impact to our members and, of course, their clients, too. Then with regards to the IRS, that is something ...
MiBolsilloColombia on MSN1d
Who benefits from SALT changes? New data shows married couples gain the most
Recent SALT deduction changes mainly benefit married couples in high-tax states, raising questions about fairness and ...