Should You Itemize Again? The Expanded SALT Deduction Breakdown

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/Chapters00:00 Introduction and Favorite Salts00:43 What is SALT?01:22 Changes in SALT Deduction Limits01:35 Impact of the New SALT Cap03:23 Strategies for Itemizing Deductions03:45 Planning for Future Tax Years04:33 Proactive Tax Planning Tips07:31 High-Income Earners and SALT Cap Phase-Out09:53 End-of-Year Tax Planning11:35 Conclusion and Additional Resources🔔 Subscribe for More Insights on Financial Planning, Investing, and Retirement:👉 Subscribe to our channel and never miss an episode of Gimme Some Truth @walknercondon 🌐 Learn More About Walkner Condon Financial Advisors:Visit: https://walknercondon.com📣 Connect with Us on Social Media:LinkedIn: https://www.linkedin.com/company/walknercondonFacebook: https://www.facebook.com/walknercondon