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State and Local Tax Estimates

Posted by Admin Posted on Dec 01 2017

If you pay state and/or local income tax estimates, you may want to consider making those payments before the end of the year rather than waiting until they are due in January 2018.  The proposed tax bills in both the House and Senate currently eliminate state and local income tax payments as itemized deductions so it may be worthwhile to pay them in 2017 when they are still deductible.  Congress still has a long way to go, and these provisions may change, but we feel it is worth considering being proactive in case tax law changes moving forward.