Nicholas Smith Outlines Itemized Deduction Changes

In the January 2026 issue of Blue Magazine, attorney Nicholas Smith outlines several key changes to itemized deductions and their impact on individual taxpayers due to provision in the One Big Beautiful Bill Act (OBBBA). Smith discusses changes to State and Local Tax (SALT) deductions, charitable deductions and a new “2/37 reduction” for high-income taxpayers.

Smith is an attorney in Reinhart's Trusts and Estates Practice, where he partners with high-net-worth individuals, families and business owners to carefully craft personalized estate plans that protect and grow their legacies. He ensures that all assets are seamlessly integrated into each estate plan, enabling his clients to most effectively navigate family changes, economic shifts and evolving tax laws.