SALT Deduction
TaxesThe deduction for State and Local Taxes paid, currently capped at $10,000 per year for federal tax purposes.
Example
Example: On a $75,000 salary, understanding salt deduction could save you hundreds or thousands at tax time. For instance, if you are in the 22% marginal bracket, knowing how salt deduction works helps you make smarter decisions about deductions, credits, and withholding. Check your tax picture with our income tax calculator.