For the next five years, there will be a much more generous state and local tax deduction available to federal income tax filers, thanks to the recently enacted mega tax-and-spending-cuts law. The new ...

The cost of home ownership is not what it used to be. Housing prices are up since the pandemic, and these high prices, coupled with high interest rates, are preventing many Americans from buying a ...

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. Photo by Eric Lee/Bloomberg via ...

As President Donald Trump’s sweeping tax bill inches through Congress, one of its key sticking points hits Americans directly where they live. The state and local tax deduction – often abbreviated as ...

Increasing the $10,000 cap on the state and local tax deduction could benefit millions of tax filers. But a proposal to do just that has become a point of contention and a possible roadblock to House ...