New for 2025 - Huge deduction increase.

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 3/31/2026

If you have any questions please give us a call to set up a meeting.