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New York Taxpayers Must Pay for Ill-Advised Lawsuit Seeking Tax Cuts for Wealthiest Residents
New York, New Jersey, and Connecticut are pursuing a questionable legal strategy to overturn the cap on a federal tax deduction that benefits the wealthy.
5 min read
More States Considering Dubious SALT Charitable Contribution Workaround
California’s plan to circumvent the new state and local tax deduction cap is dubious, but now Illinois, Nebraska, Virginia, and Washington are considering similar plans.
3 min read
State Strategies to Preserve SALT Deductions for High-Income Taxpayers: Will They Work?
The scramble to restore the full state and local tax deduction for high-income taxpayers has resulted in inventive proposals that, for both legal and practical reasons, are unlikely to succeed.
22 min read
Who Gets a Tax Cut Under the Tax Cuts and Jobs Act?
How would the Tax Cuts and Jobs Act impact different households? Check out our sample taxpayers to see what would change if the bill is enacted.
5 min read
Prepaying SALT isn’t an Option
As the Tax Cuts and Jobs Act seeks to simplify the tax code, a last-minute provision closed a potential new tax-planning strategy germinating before the bill even passed.
2 min read
Does Your State’s Individual Income Tax Code Conform with the Federal Tax Code?
As the federal government continues to debate tax reform, states, and many taxpayers, are asking an important question: How is my state’s tax code impacted? The exact impacts won’t be known until the federal bill is finalized, but a good place to start is understanding the issue of conformity.
2 min read
High-Tax States are Inconsistent on the State and Local Tax Deduction
If the state and local tax deduction is necessary to prevent double taxation, why don’t states offer a deduction for federal and local taxes?
2 min read
Important Differences Between the House and Senate Tax Reform Bills Heading into Conference
The House and Senate have both passed legislation that would overhaul the federal tax code. Learn about the key differences between the two bills.
7 min read
Key Changes in Senate Tax Reform Bill Heading into the Vote-a-Rama
A brief summary of the most notable provisions of the Senate Tax Cuts and Jobs Act in the form in which it enters the “vote-a-rama.”
3 min read