As it relates to individuals, one of the more controversial aspects of the 2017 revenue act (commonly referred to as the “Tax Cuts and Jobs Act") is the $10,000 cap on itemized deductions for state and local taxes. ...more
11/15/2019
/ Exceptions ,
Income Taxes ,
Investment Property ,
Itemized Deductions ,
Local Taxes ,
Property Tax ,
State and Local Government ,
State Taxes ,
Tax Cuts and Jobs Act ,
Tax Deductions ,
Trump Administration ,
Vacant Properties
By now, we all know that major tax legislation was passed in December of 2017. The 2017 revenue act (the “2017 Tax Act”) is officially titled “An Act to provide for reconciliation pursuant to titles II and V of the concurrent...more
5/2/2018
/ Adjusted Gross Income ,
Family Businesses ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Low-Income Issues ,
Minor Children ,
Minors ,
Tax Cuts and Jobs Act ,
Tax Planning ,
Tax Rates ,
UTMA