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
Read MoreTag: SALT cap
IRS 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
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States 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 MoreAsk The Taxgirl: The $10,000 SALT Cap & Rental Real Estate
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 rental real estate.
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