But the big beautiful bill, we had quite a bit. One of the things that I really liked was the salt cap increase. So for many people that have properties, primary residences, you're only able to write off up to $10,000 in property taxes or state taxes. Well, Trump increased the salt cap to $40,000. What does salt stand for?

Salt stands for state and local tax. So if you're in a state that taxes you, state tax, if you are in a local area that also taxes you, such as like the city of Manhattan will have its own local tax. Yeah, you have to deduct those taxes on your tax returns as an itemized deduction. The only issue was is that you only were able to deduct up to $10,000 of state and local tax.

If you're making a million dollars, you're probably paying, you know, $100,000 in state taxes if you're in a

state like California, but you're only being told that you can write off $10,000. He increased that

up to $40,000, but there are some phase outs.

If you're making over $400,000 adjusted gross income, you no longer get that salt cap phase to $400,000.

It drops back down to $10,000.

Yeah.

I was, I've seen him talk about wanting to eliminate property tax.

You seen that? I saw that that desantis is moving forward in

florida yeah try to abolish property taxes as a whole in the state of florida yeah and he's already

pushing for it at the state level um it would be interesting to see that at a you know a national level

but in the state of florida i know that that's what they're pushing for.

Yeah, because I think Trump had said it before. He was like, yeah, like, property taxes don't make any sense. And it's like, it's true. Because even if you own a property all cash and you don't pay your taxes, you don't own it. No, you don't. You don't. the government gonna take it they will come and collect it and that's how people have gotten

real estate through these tax auctions yeah Yeah. It's insane. And they're scooping up your property without you even knowing about it because you haven't been paying your property taxes. Yeah, because you own it free and clear and you're like, oh, yeah, that's cool. And there are people that get their property taxes reassessed and are sitting in retirement and can afford to pay the property tax bill because they don't have

cash flow coming anymore. Yeah, the value went up so much and it's like, and are sitting in retirement and can afford to pay the property tax bill because they don't

have cash flow coming anymore. Yeah, the value went up so much. And it's like, it is a weird thing

to get penalized for. It's like you bought this property 30 years ago. You're some boomer.

It's like, you know, wasn't worth anything when you bought it. You buy, you know, you buy California

home for what were these things,

50 grand back then. Now it's over a million bucks and you're like, how do I pay taxes on a million

dollars? And that's the situation many people have found themselves in. There's some, you know,

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