The new tax law has many impacts on state income taxes in 2018. The law limits the deductibility of state income taxes for federal purposes. It also raises the federal standard deduction amount. However, taxpayers should consider the impact on their state income tax of the decisions they make to minimize their federal taxes. This guest blog by my friend and collegue Steve Hartnett, an estate planning expert, examines why.
New Tax Law May Affect State Income Tax, Too!
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