Tax reform under the Tax Cuts and Jobs Act (TCJA) put a big chunk of your state and local tax deductions on the chopping block.
You might be sweating over the loss of these deductions. First, the state income tax is a common tax deduction if you live in a high-tax state, and often it’s a big number.
You may live in a state with high property taxes and dread the loss of some of those deductions.
We’ll show you some strategies that will help you claw back some of these deductions so you can put more money in your pocket.
What Tax Reform Did
Prior to tax reform, you could deduct, without limit, the following ... Log in to view full article.