South Shore Tax Relief

South Shore Tax Relief South Shore Tax Relief provides tax relief services to local area.

05/27/2025

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💰 What’s Happening with the SALT Deduction in 2025?

If you itemize your taxes and live in a high-tax state, this is big:
The current $10,000 cap on the State and Local Tax (SALT) deduction is set to expire at the end of 2025.

🔹 Before 2018: SALT deductions were unlimited
🔹 2018–2025: TCJA capped SALT deductions at $10,000
🔹 Starting 2026: Unless Congress acts, the unlimited deduction returns

What could change?
📌 Some lawmakers want to repeal the cap entirely
📌 Others may push to increase the cap or make it permanent

Expect this to be a major debate during 2025 tax reform discussions — especially for taxpayers in states like California, New York, New Jersey, and Illinois, where real estate taxes are high.

05/27/2025

🧾 What’s on President Trump’s 2025 Tax Agenda?

✅ Make 2017 tax cuts permanent — including lower individual rates, a larger standard deduction, and the 20% pass-through deduction for small businesses.

💼 Maintain or reduce the 21% corporate tax rate to support business growth.

💸 Eliminate federal income taxes on tips — aimed at increasing take-home pay for service workers.

📉 No new wealth or capital gains taxes proposed under this plan.

These proposals aren’t law yet, but the major tax changes made in 2017 are set to expire in 2025 — prompting a likely shift in U.S. tax policy.

Address

25 MID TECH Drive SUITE H
West Yarmouth, MA
02673

Opening Hours

Monday 8am - 4pm
Tuesday 8am - 4pm
Wednesday 8am - 4pm
Thursday 8am - 4pm
Friday 8am - 4pm

Telephone

(508) 534-9952

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