Ask 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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IRS Issues Guidance On Prepayment Of Property Taxes
To prepay or not to prepay state and local taxes? That’s been the burning question over the past week. The Internal Revenue Service (IRS) now has an answer as to whether it might accept prepayment as a tax strategy – and not surprisingly, it’s maybe.