So for those who pay more than $10,000 in combined real estate and state/local property taxes, I'm hearing that it makes sense to prepay real estate taxes for 2018 in 2017, if possible. Also, for those paying quarterly estimated taxes, instead of paying the final state estimated income tax on 1/15/18, prepay that in 2017 also.
Those steps obviously allow for deduction in 2017, when they would potentially be lost otherwise due to the new tax bill that seems likely to get through Congress.
__________________
"I love signature blocks on the Internet. I get to put whatever the hell I want in quotes, pick a pretend author, and bang, it's like he really said it." George Washington
|