1. SALT deduction raised to $40,000 for five years, benefiting homeowners. 2. High-tax areas like NYC and California will see increased home demand. 3. Historically, higher deductions result in higher home prices in affluent neighborhoods. 4. Taxpayers may itemize deductions, enhancing demand for tax services. 5. HRB's Tax Institute sees potential growth from tax law changes.
The increase in SALT deductions may lead to greater demand for tax services, positively impacting HRB's business. Historical examples show tax law changes can lead to increased revenue for tax preparation companies.
The article discusses a significant tax deduction relevant to HRB's target market, increasing potential client base. As more people consider itemizing deductions, demand for HRB's services is likely to grow.
Changes to the SALT deduction last until 2029, suggesting sustained demand over several years. Similar past tax reforms have shown lasting impacts on consumer behavior and demand for tax-related services.