Wealthy taxpayers could get a break if Congress and Trump agree to raise the limit on federal deductions based on your local ...

Senators Kirsten Gillibrand and Charles Schumer introduced legislation today to permanently remove the cap on the state and local tax (SALT) deduction.

By adding this amount to their super fund, they can claim it as a tax deduction. If you’re earning above $45,000 and subject to a combined tax and Medicare levy rate of at least 32%, such a ...

Under the current rules, everyone can make tax-deductible contributions up to a limit each year. This limit has recently increased to $30,000 and includes any funds contributed to your super fund by ...