The State and Local Tax (SALT) deduction is getting its biggest update in years. In this episode of Gimme Some Truth, Clint, Alicia, and Nate break down the new law that raises the federal SALT cap from $10,000 to $40,000 starting in 2025, with limits that phase out for higher-income households and a temporary window that currently runs through 2029.

You’ll learn what counts as SALT (property taxes, state income taxes, and certain local taxes), who benefits most in high-tax states, and why the expanded cap could make itemizing attractive again—even for filers who have taken the standard deduction in recent years. The team also explains key planning moves like timing property tax payments, bunching deductions, and coordinating SALT with charitable and other itemized strategies to maximize tax savings before year-end.

Whether you’re a high-income earner navigating the phase-out rules or a homeowner wondering if itemizing finally pays off, this conversation offers clear, practical guidance to help you take advantage of the new SALT limits while they last.

Read the blog for additional information: https://walknercondon.com/blog/how-the-new-2025-salt-cap-works-and-tax-strategies-to-maximize-your-deductions/

Chapters

00:00 Introduction and Favorite Salts

00:43 What is SALT?

01:22 Changes in SALT Deduction Limits

01:35 Impact of the New SALT Cap

03:23 Strategies for Itemizing Deductions

03:45 Planning for Future Tax Years

04:33 Proactive Tax Planning Tips

07:31 High-Income Earners and SALT Cap Phase-Out

09:53 End-of-Year Tax Planning

11:35 Conclusion and Additional Resources

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