The 500 page tax reform act just signed by President Trump has many Americans asking questions. This Bloomberg article covers several important points to think about. We encourage our clients to consider paying state property tax that is due next year this December, thereby taking advantage of full deductibility of the amount paid. In 2018 the State and local income & property tax deduction will be limited to a combined $10,000. In all cases however, we recommend clients contact their tax preparation professional for advice applicable to their own individual situation. To read the article on Bloomberg, click here.
