Samuel Corum/Getty Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links. When President Trump’s “big, beautiful” bill passed over the summer, it introduced a much higher limit on the federal deduction for SALT (state and local taxes), from $10,000 to $40,000. The limit will increase by 1% yearly until ...

Americans, particularly the affluent, are set to receive larger tax refunds or smaller tax bills when they file in 2026, because of President Donald Trump’s tax and spending package passed in July, an economist said. Total taxpayer savings could amount to an additional $50 billion because the IRS has yet to update its withholding tables to account for new provisions retroactive to the start of 2025, Oxford lead economist Nancy Vanden Houten said in a report this week. The only way taxpayers can benefit f ...

Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Retirees face a dramatically altered tax landscape in 2025 following the passage of the One Big Beautiful Bill Act (OBBBA), with changes affecting everything from state and local tax deductions to Roth conversion strategies and estate planning. Tax expert Bob Keebler, a partner with Keebler and Associates, warned that while some changes offer significant opportunities, others create pitfall ...