Oh, my, can you believe it’s already November. Actually 1/3 gone, too!
Now is the time to figure out what sort of things we can do to minimize our tax bill.
Oh, my, can you believe it’s already November. Actually 1/3 gone, too!
Now is the time to figure out what sort of things we can do to minimize our tax bill.
With the tax season mostly done now, I noticed a problem that needed an IRS fix.
You all know by now that SALT (state, local, and property taxes) have been limited under the Tax Cut and Jobs Act to a maximum deductibility of $ 10K. The GOP wanted to penalize those states under Democratic Party management, where SALT is usually higher, because better services are provided their citizenry.
OK. You all know that we are now living under a new tax law (PL115-97, aka Tax Cuts and Jobs Act). One with a purported “much” higher standard deduction, which means fewer folks will be able to (or have to) itemize.
This is a continuation of our discussion of the final versions of the House and Senate Tax Cuts and Jobs Act (sic) bill. Those are now the law of the land, PL 115-97.