With the tax reform act passed this year you maybe eligible to deduct up to $40,000 in state and local taxes. New for 2025, you can deduct up to $40,000 in state and local taxes if you itemize. This is an increase of $30,000 above the previous $10,000 cap we had in the past. This is set to increase each year. There are phase outs and you can set up a meeting with us as the rules change often to know if this deduction can benefit you. UPDATED: This article is accurate as of
Frank Spandler
Oct 1, 20251 min read
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