December 30th, 2025 by WCBC Radio

Joe Mullenax of Allegany Business Consulting recently joined the Dave Norman program to discuss making preparations for the coming tax season.  One of the big changes this year is the state and local tax or SALT deduction limit – thanks to 2025’s Working Families Tax Cut Act, the higher deduction can help reduce taxable income…

   

“No matter how much your state income tax plus your real estate taxes were, if they were $35,000 you only got to deduct ten. There was a hard limit on it. They moved that limit to forty.”

There are also other steps to take before the end of the year…

   

“Making sure you’ve put as much in to a retirement plan, as much into HSA’s as you can, or, if you’re someone who can itemize, this is the time of year people make donations. Maybe you haven’t paid your property taxes yet, you’re a little behind – you can still pay those by year end.”