Blog

Tax Reform—What Changed?

A day doesn’t go by that I don’t get a call or email from a client asking what changed with the “tax reform” legislation late last month, and how it affects them. The Tax Cut & Jobs Act (Public Law 115-97) made radical changes to the US Tax Code. The significance will vary from person […]

Prepayment of 2018 Property & Income Tax in 2017

A special message to individual taxpayers. There has been much discussion about whether or not to prepay your 2018 property taxes due next May & November and the estimated tax payment typically due 1/15/2018 on or before 12/31/2017. These taxes are commonly referred to as SALT (state and local taxes). The correct answer is, it […]

Taxes in 2017-Part 2

Will deductions be limited? One of the elements of the Trump tax plan is the limitation of itemized deductions. Those are the the items that are used to reduce income. The most common ones are mortgage interest, property taxes and charitable donations. At the present time the deductions are limited only if the taxpayers income […]

Taxes in 2017-Part 1

Welcome, clients and friends! Given all the uncertainty about taxes, I’m using this to communicate, as often as facts can be separated from fiction, information that you may find helpful in your planning. As the last Presidential campaign focused a great deal on tax reform and President Trump campaigned on that issue, here is what […]