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New Jersey Governor Phil Murphy signed legislation Monday giving small businesses in the Garden State a workaround for the $10,000 cap on state and local tax deductions under the Tax Cuts and Jobs Act.January 13
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To help individuals and businesses prepare for filing season, Grant Thornton has released a collection of year-end tax tips.December 17
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Legislation that would provide big deductions for taxpayers with high state and local tax bills is gathering momentum in the House this week, but it’s headed into a brick wall in the Senate.December 12
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House Democrats are making a last-ditch bid to reverse the $10,000 cap on state and local tax deductions before year’s end. But they’ll likely need to renew their efforts in 2020 — or beyond — because the legislation has no chance of becoming law this year.December 10
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Four states in the eastern U.S. will attempt to revive their lawsuit challenging the Trump administration’s cap on the deduction for state and local taxes, known as SALT, after a judge dismissed the case.November 26
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Moving to a lower-tax state is more attractive than ever in light of the TCJA's $10,000 cap on state tax deductions.November 20
PrincipalPKF O'Connor Davies LLP
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The president, a lifelong New Yorker, has changed his primary residence to the Sunshine State, a move that could benefit his re-election campaign — and his tax bill.November 1
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The Senate rejected a Democratic proposal that sought to give states leeway to help residents avoid the $10,000 limit on deductions for state and local tax payments.October 23
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Democrats are staging a long-shot attempt to chip away at the Republican tax law’s limit on state and local tax deductions, finding few GOP allies despite potential benefit for Republican-led states.October 23
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With October 15 coming up, Mark Luscombe shares top issues for extended tax returns.October 1
