The New SALT Tax Deduction: What the $40,000 Update Means for You

Tax law just changed, and most people have no idea what it means for them. If you've felt the sting of that old $10,000 state and local tax cap, there's good news on the table. In this video, I'm breaking down the updated SALT deduction, which is now up to $40,00, and exactly who qualifies. We'll cover the income thresholds, why this phase-out works differently from most, and why coordinating your distributions and Roth conversions with a team matters more than ever. Timestamps: (00:00) Intro: The SALT Deduction Update  (00:18) What Is the SALT Deduction?  (01:00) The Old $10,000 Cap Under the Trump Tax Cuts  (01:30) The New $40,000 Deduction Explained  (02:15) Income Phase-Out Thresholds for Married Filers  (03:00) Why This Phase-Out Isn't All or Nothing  (03:30) Why Timing and Coordination Matter  (04:15) Building Your Tax Planning Team Connect with me:  Website: meritfinancialadvisors.com/about/locations/marietta-ga/ Podcast:    / @yeomansconsulting    Facebook: facebook.com/Yeomans.yourretirementcoach  LinkedIn: linkedin.com/in/nicyeomans  Email: connect@meritfa.com If this helped you, please like my video and subscribe to follow me for more retirement tips. Disclaimer: Investment advice offered through Merit Financial Group, LLC., an SEC-registered investment adviser. #saltdeduction  #taxplanning  #retirementplanning  #taxlaw  #stateandlocaltax  #taxdeduction  #financialplanning