From 2025 through 2029, taxpayers can deduct more state and local taxes. Dr. Friday explains how this expansion could benefit you.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment, and this is a moment that I’m very excited about.
2025 through 2029, many of you know we had SALT that is on the Schedule A, where we were deducting our sales tax and our property taxes, and there was a limitation of $10,000. People from other states like California and New York, where their income tax was more than that, had a cap of $10,000.
Now starting in 2025, we’re gonna have $40,000 available there. So more opportunities to be able to itemize fully your state withholding along with your property taxes for any state that you have.
You can call us 615-367-0819.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.