SALT, tax deduction
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Trump, SALT and big beautiful bill
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Property taxes have climbed over the past several years. The amount a homeowner can deduct on their federal taxes is rising, too—but not everyone who shouldered a property tax increase will see the same benefit.
The tax hike would help the Jordan Valley Water Conservancy District meet the growing demand that comes with the county’s growing population, agency CEO Alan Packard said. Over the next five years, the district has planned $210 million in projects to establish new wells and expand treatment plants in Salt Lake Valley suburbs.
A new $40K SALT cap could deliver long-awaited tax relief to homeowners in high-cost states like NJ, NY, and CA by cutting their tax burden.
After years of debate, the U.S. House of Representatives passed a bill that raises the cap on the state and local tax deduction, known as SALT, a major shift
Tossing more money at the housing market only benefits the few who qualify – and makes house hunting a futile chase for the masses.
Under the bill, the SALT cap temporarily increases to $40,000 per year, so long as your annual income does not exceed $500,000.
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MiBolsilloColombia on MSNTrump's SALT deduction limits may drag more earners into AMT liabilityTrump’s ‘One Big Beautiful Bill Act’ could unintentionally push more taxpayers into the AMT, especially in high-tax states, despite aiming to make AMT relief permanent.