SALT-ing Your Properties for Potential Increased Income Tax Savings

Private client partner Lisa Presser and associate Brian Balduzzi co-authored an article titled “SALT-ing Your Properties for Potential Increased Income Tax Savings” for The Legal Intelligencer. 

One of the more significant changes made through the recent passage of the “One Big Beautiful Bill Act” was the amending of state and local tax (SALT) deductions for taxpayers with adjusted gross incomes of $500,000 or more. 

“These changes may offer substantial income and estate tax planning opportunities, especially for taxpayers who reside in a high income-tax state, such as New Jersey,” the authors added. “Advisers should review these planning opportunities, including certain trust strategies, with their clients and implement viable strategies promptly.”