Tag: Itemized Deductions

SALT Deduction Cap 2026: $40,400 Now, $40,804 in 2027, and Who Actually Benefits

The SALT (state and local tax) deduction cap is $40,400 for 2026, up from $40,000 in 2025. That's roughly four times the $10,000 limit in place since the 2017 Tax Cuts and Jobs Act (TCJA). It's one of the bigger pieces of the One Big Beautiful Bill (OBBBA), and it's…

Educator Expense Deduction 2026: $350 Above-the-Line, Plus a New OBBBA Itemized Break for Teachers

Eligible K-12 teachers and school staff can deduct up to $350 in unreimbursed classroom expenses on their 2026 tax return, up from $300 in 2025. It's a small bump, but it's not the real news this year. The bigger change is that the One Big Beautiful Bill (OBBB), passed in…