Tag: SALT deduction

SALT Mine: Why Keeping the Deduction Matters

SALT Mine: Why Keeping the Deduction Matters

As an analyst at OverTraders.com, I like to immerse myself in the financial environment. All my assessments are based strictly on facts and evidence. Today, I want to address a topic that often gets lost in the shuffle of tax policy debates: the State and Local Tax (SALT) deduction. While...

SALT Cap Showdown: How Tax Deductions Shape Political Battlegrounds

SALT Cap Showdown: How Tax Deductions Shape Political Battlegrounds

OverTraders.com is your home for comprehensive analysis of today’s financial markets. In this piece we’ll explore how State and Local Tax (SALT) deduction changes could shape political fortunes ahead of next year’s mid-term elections, focusing on key demographics and states. Understanding the State and Local Tax Deduction (SALT) The State...

SALT Deduction Cap Faces Potential Changes Amid Tax Cut Debates

SALT Deduction Cap Faces Potential Changes Amid Tax Cut Debates

Lawmakers want to cap the federal deduction for state and local taxes (SALT). Specifically, they’re looking at potential preventive and therapeutic changes to the currently arbitrary cap. The Tax Cuts and Jobs Act (TCJA) of 2017 set the current SALT cap. Now households can deduct no more than $10,000 in...