There are so many tax reporting deadlines and for the past two years, every time we came closer to the next deadline, there was some reason (beyond our control) for delays. Coming into this tax season, we were hopeful that things would be better. With reasons beyond our control, we are expecting more delays. There Read the full article…
state tax
California Passes Workaround to the Federal Limit on State Tax Deductions
The Tax Cuts and Jobs Act passed in December 2017 limited the state and local tax (SALT) deduction for individuals to $10,000. States have worked to find ways around the limit using various methods and gimmicks, which the IRS has rejected until recently. The IRS has issued guidance that allows states to work around the Read the full article…