A recent federal tax law change called the One Big Beautiful Bill Act (OBBBA) significantly increases the state and local tax (SALT) deduction cap from $10,000 to $40,000 for tax years beginning in 2025. This change can be especially valuable for homeowners in Port Washington and Nassau County who pay substantial property taxes and state income taxes and choose to itemize deductions on their federal tax return.

With the higher SALT cap, itemizing may be more beneficial than using the standard deduction—especially if you have significant property tax, mortgage interest, or other eligible itemized expenses. Other deductions such as charitable contributions and certain medical expenses can also help maximize your total deductions and potentially increase your refund.

If you want to know whether the increased SALT cap applies to you, whether itemizing makes sense this year, or how to prepare your documents to take full advantage of these changes, we can help. Our team of licensed Enrolled Agents and Certified Public Accountants will review your situation and guide you through maximizing your deductions and preparing accurate returns for the 2025 tax season.

Call us or visit our website to schedule a consultation and learn how these new tax law changes might affect your refund.

📍 8 Maple St #11, Port Washington, NY 11050
📞 (516) 336-3316
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