Among the changes in the One Big Beautiful Bill Act is an adjustment to the state and local tax deduction cap. The bill temporarily increases the SALT deduction cap, allowing taxpayers to deduct a ...

A substantial and surprising surge in the marginal tax rate for select high-income earners due to the phaseout of the state and local tax (SALT) deduction is now being referred to by wealth managers ...

Presumably, these areas will benefit the most from the SALT deduction cap increase. “The winners of this deduction will most definitely be the middle- to upper-middle-class earners of high-tax states, ...

After Donald Trump signed a sweeping tax and policy bill, the One Big Beautiful Bill Act, into law on July 4, Roth conversions could end up costing some clients money, warned Robert Keebler, a CPA at ...

A provision in President Trump’s recently signed tax legislation (OBBB) that raises the federal cap on state and local tax (SALT) deductions could deliver an unexpected blow to higher-income taxpayers ...

Overtime pay deduction: Individuals who receive qualified overtime compensation may deduct the pay that exceeds their regular rate of pay. The maximum annual deduction is $12,500 ($25,000 for joint ...

The new tax and policy law known as the “One Big Beautiful Bill” will create both opportunities and hazards for Roth conversions, said Robert S. Keebler, tax and estate partner at Keebler & Associates ...

Roth conversions are one of the most powerful financial planning tools available. While they’re not right for everyone, for many investors, a Roth conversion can unlock huge tax savings. There are ...

$50,000 in-plan Roth conversion costs $12,000 tax at 24% bracket versus $16,000 at 32% in retirement, saving $4,000 to $5,500 per conversion. Confirm plan document permits in-plan Roth conversions ...