Trump, SALT deduction
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All new car and truck buyers who take out a car loan won't qualify for the tax deduction. Much will depend on your income, and the vehicle you buy.
2don MSN
Increasing the $10,000 cap on the state and local tax deduction could benefit millions of tax filers. But a proposal to do just that has become a point of contention and a possible roadblock to House Republicans’ passing “one big,
Republicans in the House of Representatives have reached a deal to raise the cap on the federal deduction for state and local taxes to $40,000, according to Politico.
Several New York House Republicans are taking rapid credit for a $40,000 SALT cap passed in the budget bill early on Thursday.