Forbes contributors publish independent expert analyses and insights. Leading writer and speaker in the area of trader tax benefits. Even with a temporary $40,000 SALT cap, high earners face phaseouts ...

What Congresses gives with one hand, it often takes away with the other and that is the case with the “Big, Beautiful Bill” when it comes to advisors who use a pass-through entity model. On the plus ...

The One Big Beautiful Bill (OBBB) significantly increased the SALT cap, from $10,000 to $40,000. The higher $40,000 limit, however, is subject to a phaseout when taxpayers' income exceeds certain ...

Selling something that has shot up in value — think appreciated stocks, bitcoin bought for pennies, a rental building, or a closely held business — can leave you staring at a hefty state and federal ...

The deduction for state and local tax (SALT) paid was limited to just $10,000 for married couples under the Tax Cuts and Jobs Act (TCJA) starting in 2018. Subsequently, this limit on the SALT ...