Beginning in 2018 under the new tax law, individuals can only claim an itemized deduction of up to $10,000 for the total of state and local property taxes and state and local income taxes. Consider paying the last installment of 2017 estimated state and local taxes by Dec. 31, 2017, rather than on the 2018 due date. But don’t prepay in 2017 a state income tax bill that will be imposed for 2018. Such prepayments aren’t deductible in 2017. (The new law only forbids state income tax prepayments, so a prepayment of 2018 property tax before year end is apparently OK.)

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