The sales tax deduction lets you deduct the state and local sales taxes you've paid during the year, but only if you itemize your deductions. Learn more.
In welcome news for individual taxpayers, the One Big Beautiful Bill Act temporarily increases the “SALT cap” – the limit on the amount of the income tax deduction for state and local income, sales, ...
Elizabeth Guevara is a personal finance reporter who explains the world of business and economics and how it impacts your finances. She joined Investopedia in 2024. Investopedia / Photo Illustration ...
As 2025 comes to an end, it is an appropriate time to revisit state and local tax deductions and charitable giving plans. The One Big Beautiful Bill (OBBBA) introduced several updates that may ...
Sales tax holidays are brief windows during which a state waives sales taxes, typically limited to certain categories of ...