From work from home, to deductions, to Wayfair, it’s clear that state and local taxes (SALT) have become critical in the tax world. While the
Read MoreTag: SALT
Ask The Taxgirl: SALT Caps & Investments
Taxpayer asks: Since 2002, I have owned (via a single-member LLC) an office complex in upstate new york. I purchased it as an investment to
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Courts Say No To SALT Deduction Challenge
It turns out that there is such a thing as too much SALT. U.S. District Judge J. Paul Oetken has dismissed a lawsuit filed by
Read MoreCongress May Take Another Look At State And Local Tax (SALT) Deduction Caps
As part of the Tax Cuts and Jobs Act (TCJA), Congress capped the amount of state and local taxes (SALT) that taxpayers can deduct on
Read MoreIRS Tips Hand On SALT Cap Workarounds
The Internal Revenue Service (IRS) has issued additional guidance on state or local tax (SALT) cap workarounds, and there are no real surprises. The guidance
Read MoreA Quick Comparison Of Tax Reform Changes
Tax reform means some pretty significant changes for taxpayers in 2018. Want to know what’s new? Here’s what you need to know – with charts!
Read MoreProposed SALT Regulations Would Limit Effectiveness Of State Workarounds
You can’t always get what you want. But if you try sometimes, you find. You get what you need. Those may be words crooned by
Read MoreStates Sue IRS To Strike Down SALT Cap
In the days following tax reform, leaders in some states complained loudly about feeling targeted by deduction caps imposed on state and local taxes (SALT).
Read MoreIRS Will Issue SALT Transaction Guidance
The Internal Revenue Service (IRS) has advised that it intends to propose regulations which will address attempts to re-characterize state and local tax payments following tax reform.
Read MoreAsk The Taxgirl: The $10,000 SALT Cap & Vacation Homes
It’s “Ask The Taxgirl.” Today’s question focuses on the $10,000 cap on state and local taxes under the new tax law – and whether it applies to vacation (not rental) property.
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