Tax Planning

Quadrupled SALT deduction limit means more taxpayers will benefit from itemizing on their 2025 returns

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February 18, 2026
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An important decision to make when filing your individual income tax return is whether to claim the standard deduction or itemize deductions. A change under the One Big Beautiful Bill Act (OBBBA) will make it beneficial for more taxpayers to itemize deductions on their 2025 returns. Specifically, if you paid more than $10,000 in state […]
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Tax Planning

Can I itemize deductions on my tax return?

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February 26, 2025
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You may wonder if you can claim itemized deductions on your tax return. Perhaps you made charitable contributions and were told in the past they couldn’t be claimed because you didn’t have enough deductions to itemize. How much do you need? You can itemize deductions if the total of your allowable itemized write-offs for the […]
#StandardDeduction, #TaxDeductions #ItemizedDeductions, #TaxPlanning
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