Tax Deductions
News updates about tax deductions advisors should consider for their clients.
Senate Republicans Plan to Release Major Revisions to Trump’s Tax Bill
By Erik WassonThe Senate Finance Committee is expected to release a draft this week.
May 08, 2025
Republicans Mull Raising SALT Cap to $30,000“I’ve heard that number, and I’ve heard others as well,” Speaker Mike Johnson said.
May 01, 2025
SALT Talks Stall as GOP Mulls Limiting Tax Break to Middle ClassAn income limit on the tax break is a nonstarter for at least one key lawmaker.
April 18, 2025
Why SALT Cap for Some High Earners Gets Special Focus in CongressRepublicans are on track to raise the $10,000 cap on the state and local tax deduction.
April 11, 2025
11 Common 529 Plan Questions, AnsweredThe educational accounts have a lot of potential but also come with a degree of complexity.
February 19, 2025
Trump Backs $4.5T Tax Cut in House GOP Budget PlanThe president wants to "kickstart" all Republican priorities at once, he says.
February 10, 2025
Trump Tax Cuts’ Cost Estimated at $5T to $11TSome of the president's proposals affect Social Security, overtime pay, tips and SALT deductions.
February 06, 2025
Trump Will Seek to End Carried Interest, Expand SALT Deduction in Tax BillThe president would also like to end breaks for sports team owners, his press secretary says.