$40k SALT cap? More illusion than reality for many small business owners.

Attorney and CPA Chad D. Cummings explains the real limitations of the newly raised SALT deduction cap in this presentation. While headlines tout an increase from $10,000 to $40,000, the full benefit phases out above $500,000 in modified adjusted gross income and reverts entirely to the old $10,000 cap at $600,000. The change is also temporary, expiring after tax year 2029, and high earners in the 37% federal bracket face an additional 35-cent cap on the value of itemized deductions starting in 2026. For business owners with significant pass-through income, this means little to no additional relief on the heavy state and local taxes they already pay. This presentation shows why the SALT adjustment does not solve the core problem for high earners and how redomestication to Florida or Texas removes state income tax exposure entirely. Learn how to transfer your company’s domicile without creating a new entity, without dissolution, and on a completely tax-free basis while preserving your FEIN, contracts, credit history, and bank accounts. Learn more: https://www.cummings.law/redomestication/