Tax Deductions
News updates about tax deductions advisors should consider for their clients.
SALT Talks Stall as GOP Mulls Limiting Tax Break to Middle Class
By Erik Wasson and Billy HouseAn income limit on the tax break is a nonstarter for at least one key lawmaker.
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.
January 23, 2025
14 Tax Changes Republicans Could Make in 2025Lawmakers are floating options like repealing interest deductions for student loans, mortgages and muni bonds.
January 22, 2025
SALT Talks Gain Steam With Trump’s Blessing on Tax BreakLawmakers want to finalize a figure for the deduction cap in the coming weeks, GOP representatives say.
January 13, 2025
SALT Deduction Cap Talk With Trump ‘Positive,’ Lawmakers SayThe meeting held Saturday focused on the $10,000 cap set to expire for tax years after 2025.
January 08, 2025
Trump Gathers SALT-Focused Allies Before Tax FightSome Republicans in New Jersey, New York and California want to raise the $10,000 deduction cap.