Three people discuss a floor plan for an inherited property at a desk; one is holding a pen, another points at the plan, and house keys are visible on the table—highlighting decisions around property during the great wealth transfer.

$40,000 SALT Cap Explained: Eligibility Rules and Standard vs Itemized Deductions

Tax Credits & Deductions

The state and local tax deduction just got its biggest shake-up in years. The SALT deduction cap jumps from $10,000 to $40,000 for tax years 2025 through 2029, thanks to the One Big Beautiful Bill Act signed in July 2025. That’s a significant change in how much you can deduct for state and local taxes […]

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