Episode Details

The SALT (State and Local Tax) deduction increase primarily benefits taxpayers in high-tax states by allowing them to deduct more of their state and local taxes from their federal taxable income. Here’s the impact: Who Benefits?

• Higher-income taxpayers in high-tax states (like California, New York, and New Jersey) benefit the most.
• Middle-income families in high-tax counties may see lower federal tax bills, especially those with large property tax burdens.
• Itemizers (those who don’t take the standard deduction) will benefit, while standard deduction filers won’t be affected.

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