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One Big Beautiful Bill Locks in Tax Cuts, Tweaks SALT and Adds New Deductions
The One Big Beautiful Bill (OBBB) cements many individual tax provisions from the 2017 Tax Cuts and Jobs Act (TCJA) including permanent lower income tax rates and a doubled standard deduction. The bill passed on July 3 and is expected to be signed by President Donald Trump by July 4.
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$40,000 SALT in the Trump Tax Bill: Who really benefits?If you’ve ever itemized, you might already be familiar with the SALT deduction, the write-off for state and local taxes. It’s ...
Congress passed a giant tax bill that includes the Senate's SALT changes that allow rich Americans in high-tax states to save ...
Senate Republicans passed changes to the federal deduction for state and local taxes, known as SALT. Here's how the SALT ...
Different provisions of the GOP tax and spending bill will kick in over the next year or so. Many are set to expire just ...
The endlessly debated cap on deductions for state and local taxes (SALT) has emerged in the GOP megabill largely ...
The current $40,000 SALT cap that was brokered appears likely to stay as any changes would undoubtedly cost votes from the ...
President Trump is scheduled to sign the bill into law at 5 p.m. on July 4 at the White House, locking in tax reductions and Medicaid cuts.
The SALT deduction cap is proving to be a major sticking point between House and Senate Republicans. Experts say expanding ...
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