SALT Deduction Explained: Understanding the $10,000 Cap
The State and Local Tax (SALT) deduction allows you to deduct certain taxes on your federal return, but it's capped at $10,000. Learn how this affects homeowners and strategies to maximize your tax benefits.
What's Included in SALT?
SALT includes state income taxes, local income taxes, property taxes, and sales taxes (you can choose either income or sales, not both).