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 ...