Series Episode 01 | One Big Beautiful Bill
Major tax alert: The One Big Beautiful Bill just changed SALT forever!
From 2025 through 2029, the SALT deduction cap increases from $10,000 to $40,000, benefiting taxpayers in high-tax states like New York, California, Connecticut, and New Jersey.
For example, if you pay $35,000 in state and local taxes, you can now deduct the full amount, potentially saving thousands depending on your tax bracket.
Higher earners with incomes over $500,000 will see their deduction phase out, but the cap never drops below the original $10,000.
Bottom line: This change can significantly improve your tax efficiency if you live in a high-tax region. However, the benefits are temporary and limited to the 2025 – 2029 period.
Want to understand exactly how this impacts your next return?
Book a consultation with Leader CPA and let our CPAs help you optimize under the new rules.
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