SALT Cap

Imagine owing thousands more in federal taxes simply because you live in a state with high property taxes. This is the reality for many taxpayers under the State and Local Tax (SALT) cap. State and Local Taxes, commonly referred to as SALT, encompass a range of levies including property taxes, state income taxes, and sales…

Introduction The American dream, often symbolized by homeownership and financial stability, can be significantly impacted by seemingly obscure tax policies. One such policy, the State and Local Tax deduction cap, commonly known as the SALT cap tax, has become a focal point of debate since its implementation as part of the Tax Cuts and Jobs…